IMF agrees extra cash for Argentina

ARGENTINA - After 12 tense days of talks, the International Monetary Fund (IMF) agreed to increase its funding to crisis-hit Argentina by $8bn.

The United States, the IMF's biggest shareholder and a vital ally of Argentina, welcomed the deal.

But both the US and the IMF insisted that tough conditions were tied to the money.

Argentina will have to use much of the money in an exchange programme to help pay down its $128bn debt burden.

Some $5bn of the money could be made available as early as Septe