In the years leading up to the breakup of Yugoslavia, hyperinflation, vicious cycle of currency devaluation and higher prices triggered an economic collapse characterized by high external debt, rising unemployment, and a loss of access to foreign credit, leading to the default on its foreign debt and causing widespread social unrest. This was largely due to economic mismanagement, the impact of IMF-imposed austerity measures, and a precipitous decline in industrial production.
The Yugoslav Dinar plunged from 15 Dinars to $1 US Dollar, to 1,370 Dinars to $1 US Dollar, in a span of 3 years -- a 9000% drop in value. And the rest is history.
Ethiopia is also experiencing hyperinflation, vicious cycle of Birr devaluation (500% drop in value), high cost of living, highest unemployment rate, foreign debt crisis, defaulted on its debt obligation, and ethnicity-based bloody civil wars on multiple fronts, triggering the irreversible decline of a nation state. The writing is on the wall.
