Peru court orders government to pay 40-year-old bonds worth billions

LIMA (Reuters) - Peru's top court on Tuesday ordered the government to pay 40-year-old land reform bonds at their current value and with interest, terms that will likely lead to a payment worth several billion dollars.

The government has six months to pass a decree with further details on how to appraise the bonds and carry out the payments, two years to recognize the debt and eight years to pay it off, the court's president Oscar Urviola said.