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Hyperinflationary economies - updated IPTF watch list available

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Dec 13, 2018

On December 13, 2018, the Center for Audit Quality (CAQ) released a discussion document "Monitoring Inflation in Certain Countries". IAS 29, "Financial Reporting in Hyperinflationary Economies" defines and provides general guidance for assessing whether a particular jurisdiction's economy is hyperinflationary. But the IASB does not identify specific jurisdictions. The International Practices Task Force (IPTF) of the CAQ monitors the status of "highly inflationary" countries. The Task Force's criteria for identifying such countries are similar to those for identifying "hyperinflationary economies" under IAS 29.

The IPTF's discussion document for the November 27, 2018 meeting is now available and states the following view of the Task Force:

Countries with three-year cumulative inflation rates exceeding 100%:

  • Angola
  • Argentina
  • South Sudan
  • Sudan
  • Suriname
  • Venezuela

Countries with projected three-year cumulative inflation rates exceeding 100%:

  • Democratic Republic of Congo
  • Libya

Countries where the three-year cumulative inflation rates had exceeded 100% in recent years:

There are no countries in this category for this period.

Countries with recent three-year cumulative inflation rates exceeding 100% after a spike in inflation in a discrete period:

  • Ukraine

Countries with projected three-year cumulative inflation rates between 70% and 100% or with a significant (25% or more) increase in inflation during the current period

  • Egypt
  • Islamic Republic of Iran
  • Liberia
  • Yemen

Review the full list, including exact numbers, detailed explanations of the calculation of the numbers, and observations of the Task Force on the CAQ website.

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