Anticipating many of the potholes that accompany an unsound currency, I co-authored a book with Kurt Schuler, Teeth for the Bulgarian Lev: A Currency Board Solution (1991). In December 1996, the Bulgarian ambassador to the U.S. requested that I present my currency board system ideas in Washington, D.C. Now, President Boyko Borisov has floated the idea that the currency board and the lev should be mothballed and put in a museum. Bulgaria’s currency board has been very successful:It stopped hyperinflation in 1997, which peaked at a monthly rate of 242% in February 1997. Maybe they are tired of the tight straitjacket that the currency board makes them wear.

Source: Forbes January 30, 2018 22:10 UTC