Erm ... if it was like you write, then the government would actually be fine, because they would have to pay only 1/10 of the money (compared to 2021) to their creditors

No, the problem in this case is of course interest rates. To make Argentine bonds in Pesos attractive, Argentina had to offer bonds where the interest rate is tied to the inflation rate (so called CER bonds), so there is actually pressure to pay (and earn) more each month. There are other bonds with fixed interest rate but the rate is very high of course, and there also bonds in US dollars (which may be the ones you meant) with low interest rates.

The big problem in Argentina is the inflation inertia, which was high in several decades (1970s, 1980s, 2010s and 2020s), decreased confidence in Pesos, and made the US dollar always attractive to saving.

By the way, as I wrote in an earlier post, an Argentine state company named YPF is mining Bitcoins currently with flare gas, in cooperation with Genesis Mining (GDA). I wondered if there was a way to save at least a part of these BTC for a small strategic reserve, but found nothing about it. It seems to me that YPF is basically only selling energy to Genesis via small flare gas power plants and thus they have no control over the mined Bitcoins.

Meanwhile, an Argentine Congress member has announced a law project that the Argentine Central Bank should mine and accumulate Bitcoins as a strategic reserve (he proposes 1% of the Central Bank reserves to be in Bitcoin). The party he belongs to (PRO) is loosely allied with the current government.