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And that adversity pales in comparison with past bouts of hyperinflation, defaults on national debts and currency revaluations.
The continent veered between occasional bouts of hyperinflation and the steady downward pressure on prices caused by efforts to restore the old 19th-century gold standard.
Because of previous bouts of hyperinflation, no one wanted to save money in pesos; many people held savings accounts denominated in dollars.
The third episode corresponds to the serious macroeconomic crisis of 1989 1990, which included two bouts of hyperinflation.
Similar(56)
It was a closed, inefficient economy with a history of chronic macroeconomic mismanagement, suffering its second bout of hyperinflation in ten years.
Here's one solution: a nice bout of hyperinflation.
The seeds are being sown in the political and financial arenas today for a truly nasty bout of hyperinflation.
It was only after a long period of absolute economic decline and a devastating bout of hyperinflation that a comprehensive program of reform and integration into the world economy was adopted.
Ultimately, in the presence of severe uncertainty at a time when the country was making its first democratic transition in decades, its high inflation gave way to a short but devastating bout of hyperinflation.
But the deadbeats included current investor favorites like Brazil, which defaulted in 1983, went through a bout of hyperinflation in 1990 and effectively defaulted again, for the same reason, in 2000.
Having suffered many bouts of inflation and hyperinflation over the past decades, Argentines are conditioned not to hold their own currency.
More suggestions(17)
bouts of chaos
bouts of inflation
bouts of tension
bouts of downtime
bouts of declinism
bouts of self-doubt
bouts of turbulence
bouts of homesickness
bouts of prolixity
bouts of hand-wringing
bouts of wit
bouts of existentialism
bouts of bronchitis
bouts of claustrophobia
bouts of self-examination
bouts of counterpoint
bouts of nausea
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