Amid the financial and humanitarian crisis in Venezuela, the country is expected to see hyperinflation reach 1,000,000% a year by the end of 2018, according to the International Monetary Fund.
The nation's economic collapse will increasingly spill over into neighbouring countries, the IMF said in its updated regional outlook for Latin America.
"We are projecting a surge in inflation to 1,000,000% by end-2018 to signal that the situation in Venezuela is similar to that in Germany in 1923 or Zimbabwe in the late 2000s," said Alejandro Werner, head of the IMF's Western Hemisphere Department.
Venezuela's economy is expected to contract by 18% this year, the third consecutive year of double-digit declines and three points worse than projected in May, amid falling oil production.
Mr Werner also pointed to economic "distortions," including printing money to finance the government.
"We expect the government to continue to run wide fiscal deficits financed entirely by an expansion in base money, which will continue to fuel an acceleration of inflation as money demand continues to collapse," he said.
One million Venezuelan bolivar is today worth just over €7.
Tens of thousands of Venezuelans have fled the country to escape the crisis, which is having an impact on neighbouring economies, he said.
OPEC data shows Venezuelan oil production crashed to a new 30-year low of 1.5 million barrels a day in June, even though the country has the world's largest reserves of crude.
The South American nation earns 96% of its revenue through oil sales, but under the government of populist President Nicolas Maduro a lack of foreign exchange has sparked economic paralysis that has left the country suffering serious shortages of food and medicine.
