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50 Pesos
| Issuer | Provincia de Corrientes |
|---|---|
| Year | 2001 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | PROVINCIA DE CORRIENTES CERTIFICADOS DE CANCELACIÓN DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES CECACOR DECRETO – LEY N° 1/99 AL PORTADOR FECHA DE EMISION: 15/07/2001 AMORTIZACION DE CAPITAL E INTERESES VENCIMIENTO: 15/08/2002 SERIE C SEGUNDA EMISION MINISTRO DE HACIENDA Y FINANZAS INTERVENTOR FEDERAL DE LA PROVINCIA DE CORRIENTES CINCUENTA PESOS 50 |
| Reverse description | The reverse carries a dense block of legal text in Spanish over a light guilloche underprint, setting out the statutory framework of the CECACOR instrument under Decreto-Ley N° 1/99, 34/00, 114/01, 134/01 and Decreto N° 776/01, with articles specifying the authorisation, denomination, emission conditions, interest rate of four percent per annum, repayment terms, and permissible uses of the certificates. The heading 'CERTIFICADOS DE CANCELACION DE OBLIGACIONES DE LA PROVINCIA DE CORRIENTES (CECACOR)' is printed at top, and a decorative floral vignette appears at lower right. |
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| Comments |
Corrientes issued its own quasi-currency during the Argentine economic crisis of the early 2000s, when provincial governments, unable to meet payroll and public expenditure obligations as the federal government collapsed inward, began printing their own bonds and emergency notes. These circulated as de facto money alongside — and eventually instead of — the national peso. Corrientes was among the more aggressive provincial issuers, and its paper was accepted in local commerce out of sheer necessity rather than confidence.
The February 2001 date places this note in the early phase of the crisis, before the full convertibility collapse of December 2001 that drew international attention.