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20 Pesos
| Issuer | Provincia de Chaco |
|---|---|
| Year | 2001 |
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| Reference(s) | P#S0 |
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|---|---|
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| Reverse description | The reverse is printed in pale red-brown on light paper and carries a lengthy legal text block in Spanish across the central field, setting out articles 4, 6, 8, and 10 of the authorising provincial law, followed by the place and date 'Resistencia, 3 de Octubre de 2001'. The heading 'CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO "QUEBRACHO"' and the legal reference 'Ley N° 4951/01 · Decreto N° 1690/01' appear at the top, while the denomination '20 PESOS' is repeated in the upper-right and lower-left corners against guilloche rosette underprint panels. |
| Reverse lettering | CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DEL CHACO "QUEBRACHO" Ley N° 4951/01 · Decreto N° 1690/01 Artículo 4: Autorízase al Poder Ejecutivo Provincial a emitir certificados de cancelación de obligaciones por las sumas necesarias para asegurar el cumplimiento y la efectivización de las obligaciones contempladas en la Ley de Presupuesto y en Leyes Especiales... Los Certificados se denominarán: "Certificados de Cancelación de Obligaciones de la Provincia del Chaco: QUEBRACHO". Artículo 6: Los Certificados de Cancelación "QUEBRACHO"... contendrán la formalidad y seguridad exigidas por los artículos 742 a 745 del Código de Comercio y demás condiciones que estime convenientes el Poder Ejecutivo. Artículo 8: El pago de toda obligación dineraria, tanto pública como privada, efectuado con Certificados de Cancelación "QUEBRACHO", implicará la extinción irrevocable de la obligación. Artículo 10: Los Certificados de Cancelación "QUEBRACHO" tendrán una paridad de uno igual a uno con el Peso Convertible de Curso Legal. Conforme al Art. 18 los Certificados de Cancelación "QUEBRACHO" tienen la garantía de la Coparticipación Federal de Impuestos que le correspondan a la Provincia del Chaco. Resistencia, 3 de Octubre de 2001 20 PESOS |
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| Comments |
The Chaco 20 Peso note is one of the provincial emergency quasi-currencies — locally called *lecops* or, in Chaco's case, *quebracho* — issued during Argentina's 2001 fiscal collapse when provinces lost access to federal transfers and needed to pay salaries and suppliers in something other than pesos they didn't have. Casa de Moneda printed these under contract for multiple provinces simultaneously, which is why the production quality is considerably more polished than the scrip-like appearance might suggest.
Chaco named its bond currency after the quebracho tree, the province's historic economic backbone. The notes circulated at par with the peso under provincial decree but were not accepted universally outside Chaco's borders.