From AFP: Argentina’s government announced Thursday it had struck a deal with three foreign banks to renegotiate annual payments on part of its 150-billion-dollar sovereign debt mountain.

The accord with Citibank, Deutsche Bank and Barclay’s runs to 2012, the head of the cabinet, Sergio Massa said. “The aim of the agreement is to improve Argentina’s repayments profile,” Massa said after a meeting between President Cristina Kirchner and representatives from the US and European banks…… Full Article: Source