Unfortunately he's probably judged it to be the quickest and most stable way to gut the Argentine central bank, which he correctly views as Public Enemy #1.
As much as I hate the Fed, for Argentina going to the dollar is probably the right call until they can get on their feet again. Hopefully after that they move onto a stable currency however.
Is he still pursuing dollarization? That was a red flag to me. He seems to have gotten a bit wishy washy about since assuming office.
Unfortunately he's probably judged it to be the quickest and most stable way to gut the Argentine central bank, which he correctly views as Public Enemy #1.
As much as I hate the Fed, for Argentina going to the dollar is probably the right call until they can get on their feet again. Hopefully after that they move onto a stable currency however.