The implementation of participatory budgeting in Buenos Aires following the crisis of December 2001 was a highly unlikely event. The different parties involved had competing and contradictory agendas that did not coincide with participatory budgeting's stated aims of extending citizen participation in government, but these interacted in a way that contingently created a space for a viable process to develop. Subsequent political shifts led to the demise of participatory budgeting, but the Buenos Aires case is nevertheless important because it highlights the way in which such processes can emerge in the absence of strong programmatic politics, thereby potentially opening new avenues for the promotion of democratic innovation.