Patacón (bond)
Encyclopedia : P : PA : PAT : Patacón (bond)
| Argentine economic crisis (1999–2002) |
|---|
|
Economy of Argentina Currency Currency Board Corralito Cacerolazo 2001 Riots Apagón Debt exchange |
| [http://encycl.opentopia.com/ edit ] |
The Patacón (officially called Letra de Tesorería para Cancelación de Obligaciones de la Provincia de Buenos Aires) was a bond issued by the government of the province of Buenos Aires, Argentina, during 2001. The patacones were used to pay government bills, including state employees' salaries during a period when the economic crisis caused regular currency (Argentine pesos) to be scarce. Patacones then circulated in the economy in much the same way as pesos.
The name patacón is derived from a former Argentine national currency.
Other complementary currencies in Argentina at that time were the Crédito, the LECOP and the Argentino.
External links
- [The patacone plan - back to the future?]
- [Patacon, patacon, baker's van]
- ["Qué es el Patacón"] - the government of Argentina officially explains the Patacón to its citizens (in Spanish)
From Wikipedia, the Free Encyclopedia. Original article here. Support Wikipedia by contributing or donating.
All text is available under the terms of the GNU Free Documentation License See Wikipedia Copyrights for details.