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East Sepik Travel on The public deficits reflected, to a large extent, the industrialization strategy and the government’s historical disregard of inflation, which plagued Brazil from the late 1950s to the mid-1990s. In fact, the Brazilians’ ability to cope with price instability has been remarkable: after more than two decades of double-digit inflation, the population still managed to adjust to inflation of three to four digits for yet another decade. Many changes have occurred since 1990, however. Democracy has been fully re-established and the country has become substantially more market-oriented and open. This was the result of a set of liberal reforms that included a far-reaching privatization program and significant trade liberalization, at the unilateral and the regional levels, with Argentina, Paraguay, and Uruguay. Moreover, the Real Plan in 1994 represented the first successful stabilization plan after a sequence of failed heterodox attempts to control inflation. Despite severe balance of payments restrictions from 1995 to the early 2000s, faced by most developing countries, the Real Plan has been by all accounts successful in eliminating chronic inflation. East Sepik Travel 2016.