Argentina gives details on refinancing debt

ARGENTINA - Argentina's government yesterday announced plans to refinance the debts of 10 provinces, the first leg of its effort to restructure the country's entire $155bn ( £106bn) stock of federal and provincial debt.

The government has been fighting for more than a month to get the country's 23 provinces to accept a cut in their guaranteed monthly tax transfers - a key demand of the International Monetary Fund. In return, it has been negotiating with local banks to offer provinces the possi