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What could Venezuela's government learn from these five historic cases of hyperinflation?
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Just a great article about how to tackle hyperinflation, looking at the current situation in Venezuela and reflecting on how similar episodes have been resolved. Hat-tip to the BBC for their reference to the Hungarian hyperinflation of 1946 and one of my favourite currencies, the pengo. Not to be confused with the Pingu. That is something completely different.
However, there are some interesting lessons to be learnt, not least about how the issuance of a new, more credible currency is often required. That said, the recent Zimbabwean hyperinflation was tackled by doing away with the domestic currency altogether and relying on the dollar and the rand as a means of exchange.