Developers can still sell and receive payment through Google Play, but a permanent solution isn't yet available
Backtracking on its previous statement that it would stop allowing developers in Argentina sell paid apps in Google Play, Google is extending the deadline to an undetermined date in the future. Google initially gave developers based in the country one month's notice that after June 27th, 2013 it would stop allowing them to accept payments for apps in the Play Store, regardless of the country which the purchaser was located. At the time nothing more than speculations of government regulation were to blame for the sudden change, and it doesn't look to be getting any clearer now.
In an update to its support article regarding the shutdown today, Google briefly explained that it will continue offering developers registered in Argentina the ability to make paid apps and receive payment through Google Play while they "explore more permanent solutions." While Google indicates that it will offer updates on the status of the potential shutdown going forward, there's no doubt that this will have some cooling effect on development coming out of the country.
Source: Google Support