I don't recommend trying to become a citizen in a foreign country, unless you plan to stay there the rest of your life, and never plan to return to your country of origin. U.S. laws state that if you become a citizen in a foreign land, you are renouncing your U.S. citizenship (that's what they told me). I'm not sure about laws in other countries. I suggest going for permanent residency. In Argentina, this is a lengthy and headache inducing process, but if you persist it will happen within a year or two (or sooner, depending on your current circumstances, like finance, or weather or not you have a way to obtain certain paperwork), and you will not have to worry about loosing rights in your own country. All of that aside, I don't know if it is actually possible to get a citizenship in Argentina for those who were not born here, that's a question for immigration.
One more warning for U.S. citizens living in Argentina: I also read that U.S. laws say that if you wish to keep your U.S. citizenship while living abroad you may not work for any other government (like federal, police, or military jobs). Other than those few things, the only way you can loose citizenship in the U.S. is if you willing renounce it.
~All of These are just my suggestions and advice, based on what I've been through so far in Buenos Aires. When in doubt, it's advisable to speak to immigration, or a local lawyer (most of them in the capital and popular tourist areas can and will speak english).
ARCA is a company here that helps foreigners with paperwork and legalities, they speak english and I think they are local to Argentina, although they also have a U.S. number.
Here is their website:
http://www.argentina...dency-visas.htm
Hope I could be of some help.