Peruvian Bondholders Seek Response To Report Criticising Peru's Membership In The OECD

- LIMA, Peru, Dec. 13, 2017 /PRNewswire/ -- The following release is issued on behalf of the Agrarian Debt Bondholders Association (ABDA): More than a week ago, on December 3, 2017, multiple non-profit bondholder groups representing families of Peruvian heritage sent a letter and report to OECD Secretary-General Angel Gurría questioning Peru's request for membership in the Organisation for Economic Co-operation and Development (OECD). The report – written by Dr. Hans J. Blommestein, who was head of Public Debt Management at the OECD from 2001 to 2016 – found that Peru's conduct in its longstanding selective default on sovereign Agrarian Reform Bonds should preclude it from joining the exclusive club of global economic leaders. The report also cited Peru's failure to properly report the default to international organizations and regulators and its "shortcoming in public integrity….in particular its commitment to the rule of law, human rights and transparency." To date, our organizations, which have thousands of Peruvian and Peruvian American families as members, have received no substantive response from Peru. Today, we reiterate our request for an unbiased and objective analysis of Peru's selective default on its Agrarian Reform Bonds, with answers to five basic, reasonable questions: We are also aware that, as reported by El Comercio, Peru's Prime Minister Mercédes Aráoz claims to have sent a response to the OECD on December 5th but did not copy us. As the organization committed to transparency, we hope the OECD makes Peru's response publicly available. Ramón Remolina – ABDAAlfredo Adrianzen – ADAEPRALuis Huguet Nicolini - ADAEPRA