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5 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2000 |
| Type | Local banknote |
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|---|---|
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| Reverse description | The reverse is printed entirely in black letterpress on plain paper and carries the full legal text governing the CECACOR debt-cancellation certificates, structured as numbered articles drawn from Decreto-Ley Nº 1/99, Decreto Nº 34/00, and Decreto Nº 1236/00. The text fills the entire face in dense columns of small type, with the heading CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES (CECACOR) set in bold across the top. A faint guilloche underprint and a small floral vignette are visible in the lower right corner as minor decorative elements. |
| Reverse lettering | CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES (CECACOR) DECRETO - LEY Nº 1/99, 34/00 y DECRETO Nº 1236/00 |
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| Comments |
Corrientes issued its own provincial currency during the Argentine economic crisis of the late 1990s, when the province — chronically short of federal transfers — resorted to quasi-money to pay salaries and keep circulation moving. These notes, known as "Cecacor" bonds, circulated alongside federal pesos at nominal par but were often discounted in practice by merchants unwilling to accept provincial paper at face value.
The 2001 collapse ended the arrangement abruptly. Provincial scrip was eventually redeemed at varying rates, and much of what survived did so only because holders couldn't redeem it in time.