Indonesia's government also implemented this exact policy in 1950. The policy was called "Gunting Sjafruddin" or "Sjafruddin Cut" after the minister Sjafruddin

Indonesia's government also implemented this exact policy in 1950. The policy was called "Gunting Sjafruddin" or "Sjafruddin Cut" after the minister Sjafruddin Prawiranegara. Not sure about the impact though. This article wrote about it: https://yohanesnuwara.medium.com/most-thought-provoking-monetary-policy-in-the-world-was-just-happened-in-indonesia-in-1950-127dc1cc51ab https://yohanesnuwara.medium.com/most-thought-provoking-mone...