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Asked if the firm would continue to make provisions for hyper-inflation, Massaad said "we're trying to find solutions" as the impairment - Dh19.
Bulgaria was completely bankrupt by the end of 1996 and had hyper-inflation that peaked with a monthly inflation rate of 242%, in February 1997, wiping out the banks and the country.
Based on a number of reports and assessments, my own current estimate (May 2013) is roughly 75 percent annually--ER] In fact, Sudan is rapidly approaching the point at which hyper-inflation will govern economic calculations and transactions, sending the pound into free-fall as desperate bank depositors and others with cash holdings in pounds convert to a hard currency or valuable commodities (gold, silver, even food) at almost any exchange rate.
Low inflation -- and the diminished expectation of hyper-inflation -- also plays well on Wall Street.
But analysts cautioned that Imperial's blown budget is not an indication that the sector is again experiencing the hyper-inflation that plagued oil sands projects before the financial crisis, when companies were competing for materials and a limited supply of skilled labour.
After more than a decade, in which the country suffered hyper-inflation of 231 million percent and infrastructure that crumbled as quickly as prices went up, the situation is now more stable.
Central banking purists, especially in Germany, with its history scarred by hyper-inflation, worry that the guardians of sound money are losing their independence to governments and will find it hard to get the genie back into the bottle.
As inflation erodes the rial's purchasing power, Iran's central bank must increase the supply of money, which risks hyper-inflation, a cycle of rising prices and rising volumes of money in circulation.
So one option for those in work enduring hyper-inflation and low interest rates, was to postpone retirement.
Needless to say, with the actors in town, the price rocketed to a sum not seen since the days of Germany's hyper-inflation.
If you take Dubai as an example, where there is a huge demand and a fight for resources, you get hyper-inflation.
Nobody can deny that inflation and possibly hyper-inflation will take place in 2012, and the only thing that can protect an individual's net worth from such inflation is gold.