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by theiostream
3572 days ago
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This is wrong. Actually, the LRF was only sanctioned in 2000, when inflation was already at 5.97% yearly. The main factor behind reducing the inflation was not the URV hack, but the government's fulfilled commitment to markets to keep inflation low at all costs: through skyrocketing interest rates [around 25%], for instance (thus reducing credit -> reducing consumption -> reducing prices); or by binding it to the US Dollar and bankrupting many national industries. |
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