Argentina seizes pension funds

ARGENTINA - The Argentine government has said it is to use money held in private pension funds to help pay its bills.

The move came just hours before Economy Minister Domingo Cavallo left for Washington for talks with the International Monetary Fund (IMF) on Friday in a bid to secure a fresh loan.

"The people have to remain calm. Nothing new has happened," said Mr Cavallo.

The move is the latest measure to be carried out by the government as it struggles to avoid defaulting on its $132bn debt