WASHINGTON, April 13, 2016 /PRNewswire/ -- The Peruvian-American Bondholders for Justice (PABJ) demands answers from Peruvian Minister Alonso Segura regarding the agrarian reform bonds while he attends the IMF World Bank Meetings in Washington, D.C.
Minister Segura will be speaking on a panel held at George Washington University's Jack Morton Auditorium, titled "Collect More & Spend Better: The Role of Capacity Development," today at 4:00pm ET.
Meanwhile, prosecutors in Peru have obtained indisputable evidence that the Constitutional Tribunal's July 2013 decision relating to the agrarian reform bonds was illegally forged with white out. Please visit Perubonds.org for a copy of the police forensic report, which illustrates the multiple forgeries.
As a result, the Constitutional Tribunal's court clerk, Oscar Diaz, has been charged with falsification of court documents and other crimes while the criminal investigation continues.
Of the six justices presiding over the 2013 Constitutional Tribunal decision, two (Carlos Mesia Ramirez and Gerardo Eto Cruz) have filed separate criminal complaints alleging that a forgery has occurred and a third justice (Fernando Calle Hayden) has publicly denounced the decision as a "crime."
Minister Segura has publically stated in several media interviews that Peru is following the law to repay its agrarian reform bond debt. However, he fails to even mention, much less explain, the criminal charges, the multiple forgeries, or even the ongoing default. Instead, Minister Segura has publicly stated:
- "There's a procedure established by the highest court [in Peru] which mandates how we should proceed in terms of the authentication, registration and the valuation of the bonds, and we're sticking closely to that."
- The Wall Street Journal, March 10, 2016
- "Whether some bondholders like it or not, Peru respects the law and we expect others to respect it as well."
- Reuters, October 11, 2015
- "Peru is a responsible country. We are following Peruvian law."
- Latin Finance, March 11, 2016
In response to Minister Segura's public statements regarding the agrarian reform bonds, PABJ poses the following questions for Minister Segura and his predecessor as finance minister, and architect of the current flawed process, Ambassador Luis Miguel Castilla:
- How can Peru possibly rely on a decision from its highest court that has been forged with white out and subject to a criminal proceeding?
- Is it true that Peru's current process for the agrarian reform bonds requires bondholders to waive all their rights at inception without knowing the amount they will receive? And further, that the process allows the government to delay payment by at least seven years and then elect not to pay at all if the government believes payment will affect the budget?
- What is the amount that Peru is offering bondholders under its current flawed process?
- How does Peru officially account for the agrarian reform bonds in its official debt statistics?
- How is Peru's failure to honor the agrarian reform bonds not a selective default?
"PABJ demands answers to these questions. Minister Segura is participating in the IMF World Bank meeting today while, at the same time, sweeping the agrarian reform bond debt under a rug. The selective default has gone on for too long and it is time to pay the bondholders what they are owed or at least be honest with the IMF, WB and global markets about the Humala administration's unwillingness to pay," said Tony Llaveria, a member of the PABJ.
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SOURCE Peruvian-American Bondholders for Justice (PABJ)