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2 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2000 |
| Type | Log in to see details |
| Value | 2 Pesos |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PROVINCIA DE CORRIENTES CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES CECACOR DECRETO - LEY Nº 1/99 AL PORTADOR FECHA DE EMISION: 01/08/2000 AMORTIZACION DE CAPITAL E INTERESES VENCIMIENTO: 31/01/2002 MINISTRO DE HACIENDA Y FINANZAS INTERVENTOR FEDERAL DE LA PROVINCIA DE CORRIENTES SERIE B DOS PESOS 2 |
| Reverse description | The reverse is devoted entirely to the printed legal text of the CECACOR instrument, set in columns of small Spanish-language type on a lightly toned paper ground with a subtle guilloche underprint. The heading CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES (CECACOR) / DECRETO - LEY Nº 1/99, 34/00 y DECRETO Nº 1236/00 appears at the top, followed by several numbered articles — 28° through 34° — establishing the legal framework, authorised total issuance, maturity, interest rate, and redemption conditions. A stylised floral vignette is printed in the lower right corner as a decorative element. |
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| Comments |
Corrientes issued its own provincial currency in the late 1990s and early 2000s — a direct consequence of the Argentine federal government's fiscal squeeze on the provinces under the Convertibility regime. These notes, called "Cecacor" (Certificados de Cancelación de Deudas de Corrientes), were used to pay provincial employees and contractors when the province lacked sufficient federal transfers to meet its obligations in national pesos.
The Cecacor circulated under legal duress — local businesses were effectively compelled to accept them despite having no obligation to do so under federal law. Several other Argentine provinces issued similar quasi-currencies in the same period, but Corrientes was among the earliest and most aggressive in doing so.