https://www.cnn.com/2023/10/23/business/javier-milei-argentina-dollerization-explainer/index.html
Such a move would effectively disband Argentina’s central bank, handing the reins of monetary policy — that is, the power to set interest rates and print more money — over to the US Federal Reserve. The Fed would continue to set the cost of borrowing based on the needs of the US economy, not Argentina’s.
Milei has argued that surrendering autonomy to Washington is a necessary step to instil discipline into Argentinian policymakers. It would mean Argentina would no longer be able to print money.
Its such baby-brained econ 101 thinking.
"Guys, Argentina has an inflation problem because we have
a chronic shortage of consumer goodstoo many pesos. If we just switch to a currency that is also in short supply then,we'll transform into an export market that ships off even more of our scarce consumer goodswe'll keep prices low."