As far as I know the scene is becoming stronger, although the target for the majority of new business is the Argentinian market and the majority do not have plans of international expansion initialy, this is slowly changing.
I'm not sure about the language but I suspect that it falls in the same situation of São Paulo.
EDIT: This article introduces something more useful about Argentina than I'm able to provide: http://www.nytimes.com/2008/12/26/business/worldbusiness/26p...