owes billions of dollars to bondholders.
owes billions of dollars to bondholders.
owes billions of dollars to bondholders.
fraudulently covers up its misdeeds.
fraudulently covers up its misdeeds.
fraudulently covers up its misdeeds.
cheats Peruvians, Americans and pension funds.
cheats Peruvians, Americans and pension funds.
cheats Peruvians, Americans and pension funds.
should not be touted as a credit market darling.
should not be touted as a credit market darling.
should not be touted as a credit market darling.
Peru owes several billion dollars to holders of agrarian reform bonds, issued when a leftist military dictatorship seized millions of acres of farmland from citizens from 1969 to 1982. Peru stopped repaying the bonds during a period of financial distress, but today its economy is among the strongest in Latin America.
Yet Peru refuses to repay the agrarian reform bonds despite making repeated promises, and resolving all other defaulted debt. In fact, Peru has attempted to avoid and hide its agrarian reform debt, in the process corrupting its highest court, committing securities fraud in the U.S. and misleading the IMF, OECD, World Bank, SEC and major credit rating agencies.
By choosing to continue defaulting, Peru is stealing from agrarian reform bondholders including:
• Thousands of Peruvian citizens – whose seized land is worth $42 billion today
• U.S. citizens of Peruvian descent – violating the conditions of the Helms-Burton Act with respect to the U.S. foreign aid Peru receives
• U.S. pension funds, universities, endowments and foundations – breaking promises made when the U.S. struck a free-trade agreement with Peru
We are a coalition of Peruvian-American bondholders and other allied groups who believe the time has come for Peru to finally fix this injustice and honor its promises by repaying this debt.