Old Mutual has decided to apply hyperinflationary
accounting to Zimbabwe operations, following severe currency problems in the country.
Examples of adjustments to EBIT include but are not limited to impairment charges on long-lived assets and other exit costs resulting from strategic shifts in our operations or discrete market and business conditions; costs arising from the ignition switch recall and related legal matters; and certain currency devaluations associated with hyperinflationary
The oil-rich country's hyperinflationary
economic crisis has led to widespread shortages in food and medicine, prompting over 4 million Venezuelans to leave the country.
Accordingly, TAS 29, "Financial Reporting in Hyperinflationary
Economies", issued by the POA, has not been applied in the financial statements for the accounting year commencing 1 January 2005.
With Venezuela facing a hyperinflationary
economic collapse and a relentless weakening in the bolivar currency, economists are wondering how the country can return to stability.
Maduro, who maintains control over state institutions amid a hyperinflationary
economic meltdown and humanitarian crisis, calls Guaido a puppet of Washington.
Soon, however, bottlenecks appeared and prices skyrocketed, in some cases at hyperinflationary
It does not help that, if the workers do show up for work, they are being paid wages in Venezuelan bolivars, and in Venezuela's hyperinflationary
environment, Venezuelan bolivars have dramatically less purchasing power than in the past.
The blackout, which began Thursday afternoon, increased frustration among Venezuelans already suffering widespread food and medicine shortages, as the once-prosperous OPEC nation's economy suffers a hyperinflationary
He promised to create a transitional government that would help the oil-rich nation escape its hyperinflationary
Guaido, 35, has energized the opposition with a campaign to declare Maduro a usurper and has promised a transition to a new government in a nation suffering a hyperinflationary
As Argentina, Venezuela, Turkey and other hyperinflationary
economies have shown us, putting the printing press in the hands of politicians is a recipe for disaster.