20 Pesos

The Tesorería de la Provincia de Buenos Aires issued provincial quasi-currency during and after the 2001–2002 Argentine financial collapse, when the federal government froze bank deposits under the corralito and the country effectively ran out of circulating pesos. Buenos Aires province, like many others, filled the gap with its own interest-bearing bonds that functioned as cash. By 2006, however, the acute emergency was long over — federal redemption programs had absorbed most provincial scrip, making a note issued that late in the cycle an administrative remnant rather than a crisis instrument.

The 2006 date places this firmly in the tail-end redemption and reissuance phase, when provincial treasuries were settling outstanding obligations rather than actively injecting liquidity.