Beginning in 1969, the government of Peru issued sovereign bonds as compensation for land expropriation during the Peruvian land reform under General Juan Velasco Alvarado. The government's aim was to redistribute land and reform the country's agrarian infrastructure. Payments on these bonds halted in 1992 due to periods of hyperinflation. The agrarian bonds have been recognized as outstanding sovereign debt obligations by Peru's highest courts, who have stated that these bonds should be repaid. However, today the debt remains unpaid, and the government of Peru has yet to clarify means and ultimate value of compensation to current bondholders.