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

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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