"There is no compensation scheme here"
medium likelihoodThe carrier says the country has no passenger-rights regime, or that its conditions of carriage are the only thing that applies.
What answers it
That is not right: Resolución 1532/98 (Condiciones Generales del Contrato de Transporte Aéreo) and Ley 17.285 (Código Aeronáutico) and Ley 24.240 (Defensa del Consumidor) govern this. Ask the carrier to state, in writing, which provision it says applies to your flight and what it provides. A carrier that will not answer that question in writing is one you take to the regulator.
Resolución 1532/98 (Condiciones Generales del Contrato de Transporte Aéreo)