hyperinflation n. An unusually rapid rate of monetary inflation, as when prices rise more than 100 per cent per year. Note: A famous example occurred in Germany after the first World War, reaching its peak in the period 1923. When the hyperinflation ended by 1924, the value of the mark had decreased by more than one trillion times compared to its value in 1914. Periods of lesser hyperinflation have occurred in many other countries, as in Russia in 1994.
... resources, benefits also from a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Nevertheless, following decades of mismanagement and statist policies, the economy in the late 1980s was plagued with huge external debts and recurring bouts of hyperinflation. Elected in 1989, in the depths of recession, President MENEM has implemented a comprehensive economic restructuring program that shows signs of putting Argentina on a path of stable, sustainable growth. Argentina's currency has traded at par with the US dollar since ... — The 1995 CIA World Factbook • United States Central Intelligence Agency Read full book for free!
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