A throng of Argentine business leaders who descended this week on a beach resort tried to leave behind the political and market turmoil gripping the country so they could ponder the future. Their efforts were near impossible to sustain.

“What’s happened over the past week is short-term noise; our focus shouldn’t be there,” said Fabian Kon, chief executive officer of banking group Grupo Financiero Galicia, who helped organise the annual gathering. “There’s still so much to do to build the Argentina that we want to see. But when you chat on the sidelines, you can’t escape the extreme volatility.”

The conference in the city of Mar del Plata, attended by about

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