Yep. And Argentina did the same in the 90's and they made 1 Peso = 1 USD. And it stopped hyperinflation.
What screwed up Argentina (big big time) was having state size go completely out of control and grow and grow until deficit couldn't be grown anymore and debt either.
After that crisis (2001) 5 presidents in 1 week, currency devaluation and a populist new president took office, then his wife (the Kirchners) and they almost became what Venezuela is today.
What screwed up Argentina (big big time) was having state size go completely out of control and grow and grow until deficit couldn't be grown anymore and debt either.
After that crisis (2001) 5 presidents in 1 week, currency devaluation and a populist new president took office, then his wife (the Kirchners) and they almost became what Venezuela is today.