The code contains nested for loops. The outer loop runs 5 times and the inner loop runs 4 times. However, there is a conditional statement inside the inner loop that uses the "continue" keyword. This means that if the value of "i" is greater than 1, the inner loop will skip the rest of its iterations and move to the next iteration of the outer loop. Therefore, when "i" is 2, 3, or 4, the inner loop is skipped entirely. As a result, "Hi" is only printed during the first two iterations of the outer loop, which gives a total of 8 times.