Argentine President Fernandez meets with France's Francois Hollande, expected to discuss debt

Argentine President Cristina Fernandez is meeting with her French counterpart in Paris and is expected to discuss ways to tackle her country's growing international debt.

Argentina currently owes $9.5 billion to the Paris Club, a group of the world's wealthiest countries that has in recent decades helped other nations with debt problems.

The Paris Club and Argentina plan to reopen formal negotiations in late May on the debt, which Argentina hasn't made payments on since its economy collapsed in a world-record default in 2002. Moody's Investors Service, the ratings agency, on Monday downgraded Argentina's government bond rating amid concerns about its finances.

Fernandez will have a working lunch with Francois Hollande at Paris' Elysee Palace on Wednesday, part of a European tour during which she has also visited the Pope.