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A 500 billion dinar banknote, which was the largest denomination banknote printed in Yugoslavia. Between 1992 and 1994, the Federal Republic of Yugoslavia (FRY) experienced the second-longest period of hyperinflation in world economic history [1] after that of 1920s Russia, [a] caused by an explosive growth in the money supply of the Yugoslav economy during the Yugoslav Wars. [3]
The first hyperinflation stabilization program was adopted under the name Economic Reform Program, passed in late 1989, when, for the most part, due to total price liberalization, Yugoslavia was hit by hyperinflation. The monthly price level increased from month to month, and in December 1989, the inflation percentage was 45%.
Hyperinflation in Yugoslavia may refer to: Hyperinflation in the Socialist Federal Republic of Yugoslavia, late 1980s and early 1990s up to the breakup;
See Hyperinflation in Zimbabwe [2] Asia. Country ... Yugoslavia: 1983: Avoided default through a multinational emergency loan. [citation needed] North America
The hyperinflation under the Chinese Nationalists from 1939 to 1945 is a classic example of a government printing money to pay civil war costs. By the end, currency was flown in over the Himalayas, and then old currency was flown out to be destroyed. Hyperinflation is a complex phenomenon and one explanation may not be applicable to all cases.
Yugoslavia re-denominated the dinar for the fifth time on 1 January 1994, at a ratio of 1 billion (10 9) to 1. The 1994 dinar ( ISO 4217 code : YUG) was the shortest-lived out of all incarnations of Yugoslav currency, as hyperinflation continued to intensify, [ 4 ] and only one coin (1 dinar) was issued for it.
As inflation worsened into hyperinflation, banknotes for 20,000 dinara were introduced in 1987, followed by 50,000 dinara in 1988 and 100,000, 500,000, 1,000,000 and 2,000,000 dinara in 1989. The 500,000 and 2,000,000 dinara notes were unusual in that they did not feature a portrait but an image of the monument on Kozara .
The sanctions forbade the EEC's members from importing textiles from Yugoslavia and suspended an aggregate total of $1.9 billion in EEC aid packages which had been promised to Yugoslavia before twelve cease-fires failed to materialise in the Croatian war zone. [10] At the turn of 1992, the dissolution of SFR Yugoslavia was internationally ...