The Economist published an interesting report about that some months ago. The main takeaways were that (1) Argentine was rich, but lagged behind its money-peers

The Economist published an interesting report about that some months ago. The main takeaways were that (1) Argentine was rich, but lagged behind its money-peers in human development indexes such as literacy rates and (2) The elite from Argentina benefited from high food prices, so the rest of the country resented them, a brewing pot for populism. But your point stands, monetary (or fiscal) policy was awful.