Argentina draws up debt-swap plan

ARGENTINA - Argentina is preparing a new debt exchange aimed at easing its heavy interest burden, amid a raging debate as to whether the plan would in fact constitute a default.

Yesterday the government embarked on a crucial set of talks with provincial governors to get them to agree to a reduction in their legally mandated monthly tax transfers in return for help in restructuring their debt.

The government has already been in negotiations with local banks to try to get them to lower soaring in

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