Ridiculous. They should have dollarized the economy. It would have forced internal and external discipline on them.
What screwed up Argentina (big big time) was having state size go completely out of control and grow and grow until deficit couldn't be grown anymore and debt either.
After that crisis (2001) 5 presidents in 1 week, currency devaluation and a populist new president took office, then his wife (the Kirchners) and they almost became what Venezuela is today.