The issue of unpaid agrarian bonds has plagued the Peruvian government for the last three decades, impacting on the country’s ability to attract foreign investment and the price of sovereign bonds issued. In 1969 the Peruvian government, under the military dictatorship of Juan Velasco, passed the Law of Agrarian Reform; forcibly expropriating 9 million hectares of farmland and distributing them to 370,000 families.

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