Buenos Aires would be a much better city if not for its economic and crime woes. A fact about EIU is that they use government numbers that paint everything as rosy.
In all honesty, Buenos Aires is not a bad city at all. All they have to do is have a decent police department, control the inflation level, lower import taxes (to make local products on par with the rest of the world and also for people to have access to more goods), get rid of import restrictions, get a good cleaning crew for the city, educate people to use trash-cans, pick up dog poop, fix the pavement, get new subway trains or at least fix the old ones (especially the ventilation), send bus drivers to therapy so they don't bring along their anger while driving and I guess educate people on manners while walking on the street.
I'm sure I'm missing a lot of things but I'm also sure that I have added a lot of things I personally care about. The fact remains that if they even began fixing some of the rampant problems in the city, I'd have a very different opinion of Buenos Aires than I do right now. The status-quo sucks and the realization of that will go a long way.