The "Original Sin" of not Governments not being able to get debt in the same currency they are able to collect taxes.
So, when the main source of USD suffers in some sense (export prices, or some kind of supply shock) the Government (unable to get funds) must retort to fiscal policy to meet its commitments. And fiscal policy is the number #1 recipe to get (hyper-)inflation
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.
The upward limit on the payment OTOH is quite low (<US$2k/month) but most employers choose to supplement the State payment with the balance of your paycheck.
I would really like to read about the compact cassette design history. It's a really remarkable product in which you can appreciate a long list of trade-offs made by the designer(s).