Argentina new bid to cut debts

ARGENTINA - Argentina's beleaguered Economy Minister, Domingo Cavallo, is preparing to announce measures to try to prevent the country defaulting on its massive debts.

He needs to cut the government's budget deficit in order to persuade the International Monetary Fund to unblock a vital loan.

The main measure will be the ending of tax breaks to private sector companies, likely to raise about $4bn extra for the government. Mr Cavallo, who is facing calls from opposition politicians for his resi

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