Brazil had the same inflation problems and adopted a plan very similar to Cavallo's plan. Brazil also had a lot of corruption and trouble reducing public spending, but came out of it comparatively better. Ultimately, the crux of the 90's failure was the obsession with the dollar running top to bottom in society (caused mainly by the politicians misleading the people about the viability of the peg) and the refusal to de-peg when it was the obvious way ahead. And off we go again...
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