The Argentine currency ended trading on Friday, the first month of 2014, at 8.01 Pesos to the US dollar with an accumulated devaluation in January of 18.63%, the greatest loss in a single month since 2002. However market analysts described the situation as a depreciation 'sustained and managed' by the government of President Cristina Fernandez.
The economies of Argentina and Venezuela are the least well-off in the region due to pressures on inflation, the balance of payments, and foreign exchange markets that developed last year, the International Monetary Fund warned.
Falkland Islands Member of the Legislative Assembly Mike Summers attended on Friday a wreath-laying ceremony at Palmerston, New Zealand, to honor the sacrifice of Private Richard Absolon who was the only New Zealand solider killed during the Falkland Islands war in 1982.
The UK and France have agreed to strengthen defense co-operation following a summit at RAF Brize Norton on Friday. A communiqué signed by UK Prime Minister David Cameron and French President Francois Hollande sets out plans for closer ties between the two countries.
Royal Navy has sent additional personnel to Gibraltar to strengthen its Gibraltar Squadron in response to Spanish maritime incursions into British territorial waters.
The International Monetary Fund urged central banks to ensure that a financial market rout in the developing world does not lead to an international funding crunch. An IMF spokesman said some emerging market countries need to take urgent action to improve their economies, which are under threat by a recent sell-off in markets from India and Turkey to Brazil.