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Hyperinflationary economies - updated IPTF watch list available

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Mar 08, 2018

On March 8, 2018, the Centre for Audit Quality (CAQ) released the 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 Centre for Audit Quality (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 21, 2017 meeting is now available and states the following view of the Task Force:

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

  • South Sudan
  • Suriname
  • Venezuela

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

  • Angola
  • Libya
  • Argentina

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

  • Sudan

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

  • Democratic Republic of Kongo
  • Egypt
  • Yemen

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

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