A more accurate comparison that controls for location, culture, political structure, economic situation, etc is between Sweden and the other Nordic countries where it had both higher mortality and worse economic outcomes than its sister nations. Carefully consider your preexisting biases when it comes to interpreting something as complex as the respond of entire nations to an unprecedented pandemic.
Maybe Argentinians just refuse to listen to their government? Maybe environmental factors or lack of infrastructure made it way worse down there and it would be even worse if it weren't for the lockdowns?