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50 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2000 |
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| Value | Log in to see details |
| Currency | Peso (1992-date) |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | Plain off-white reverse printed entirely in black with multiple articles of the authorising legislation, set in uniform small serif typeface within a defined text block. 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' runs across the top, followed by Articles 28°, 30°, 32° and 38° in full legal text. A light floral guilloche border element is visible at lower right as a decorative underprint device. |
| 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 Artículo 28°.- Autorízase al Poder Ejecutivo a emitir certificados de cancelación de obligaciones hasta la suma total de pesos CUATROCIENTOS MILLONES ($400.000.000,-). Artículo 30°.- Los Certificados se denominarán "Certificados de Cancelación de Obligaciones de la Provincia de Corrientes", en adelante "CECACOR". Artículo 32°.- El Poder Ejecutivo podrá rescatar anticipadamente la totalidad o parte de los CECACOR que se encuentren en circulación. Artículo 38°.- Los CECACOR podrán ser utilizados por sus tenedores para la cancelación de obligaciones, cualquiera fuere su naturaleza, con el Estado Provincial, Entidades Autárquicas y Empresas. |
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| Comments |
Corrientes issued its own quasi-currency during the provincial fiscal crisis of the late 1990s and early 2000s, when Argentina's federal government could no longer reliably transfer revenue-sharing funds to the provinces. These notes — formally called Letras de Cancelación de Obligaciones Provinciales, or LECOP precursors in the provincial sense — circulated alongside federal pesos as de facto legal tender within the province, accepted for tax payments and public-sector wages.
Corrientes was placed under federal intervention in late 1999, making the political circumstances around this specific issuance unusually turbulent. Notes from this period sometimes circulated well beyond their intended redemption dates simply because there was nothing else available.