Argentina and IMF at odds over payment

ARGENTINA - Argentina and the International Monetary Fund remain some distance apart in negotiations over an agreement that would make it easier to make a $805m debt payment due to the World Bank next week.

Argentina is continuing to warn that it will default on obligations to multilaterals rather than use reserves of about $10bn, even though this would set back its efforts to rehabilitate itself in international markets, the Financial Times reported.

Argentina defaulted on some $95bn in bonds