BUENOS AIRES, Dec 11 (Reuters) - Argentina's new governmentis negotiating with a group of Wall Street banks for a creditline worth up to $7 billion to bolster its low foreign reservesand help it lift capital controls, a banking source said onFriday.
Center-right President Mauricio Macri, who took office onThursday, wants to move quickly to remove currency controls thatrestrict access to dollars but is stymied by the central bank'sprecariously low hard currency stocks.
The commercial banking source said Argentina was in talkswith HSBC, JPMorgan Chase & Co., Goldman Sachs, Deutsche Bank and Citigroup Inc.
But he said there remained obstacles to an agreement andthat no immediate deal was likely.
"The banks are working on a deal. It would be difficult foranything to come about immediately. There are some key detailsneeded to close this out that are missing," said the source,without giving more details. (Reporting by Jorge Otoala and Nicolas Misculin Writing byRichard Lough; Editing by Chizu Nomiyama)