WASHINGTON, April 24, 2017 /PRNewswire/ -- Mobile billboards decrying Peru's agrarian land bond default were spotted across Washington last weekend during the spring meetings of the World Bank and International Monetary Fund (IMF).
With landmarks like the World Bank, IMF, US Capitol, and White House as backdrops as the trucks rolled through the city, the signs declared: "Peru Defaults. Ratings Agencies Ignore it. American Workers & Retirees Pay the Bill."
Earlier this month, the Teamsters sent a letter to the Peruvian government raising issue with Peru not honoring its commitment to service the land bond debt, which hurts the union's pension holders.
The billboards, from the Peruvian American Bondholders for Justice (PABJ), called out Peru at a time when Finance Minister Alfredo Thorne was in Washington and just days after Peru announced it wants to issue up to $3 billion in bonds to finance a state-run oil firm.
PABJ calls on Peru to make good on its existing debts before coming to market with new bonds. At the same time, PABJ warns potential buyers of future Peruvian bonds that Peru does not act in good faith regarding its debts.
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