Yes, you are right. URV was a nice hack, but people overestimate its economic brilliance. To confirm that it was something imposed by foreigners, you just have

Yes, you are right. URV was a nice hack, but people overestimate its economic brilliance. To confirm that it was something imposed by foreigners, you just have to take a look at the dates when the Latin America hyperinflation ended in each country: Mar. 1990 Brazil Mar. 1990 Argentina Aug. 1990 Peru Mar. 1991 Nicaragua You can see a compiled hyperinflation rates in a table in this paper: http://object.cato.org/sites/cato.org/files/pubs/pdf/workingpaper-8.pdf http://object.cato.org/sites/cato.org/files/pubs/pdf/working... Till today Brazil suffers with a overvalued money. The medium class loves it, because they can travel abroad cheaply and buy imported goods. You should take a look at this Wikipedia page: https://en.wikipedia.org/wiki/Washington_Consensus https://en.wikipedia.org/wiki/Washington_Consensus