I'd say his presidency had a big hand in it. He came to power on a platform of socioeconomic reform. Engaged in some crazy land redistribution (which always caused problems) and his Finance MInister initiated an expansive monetary policy.
Of course when you're eliminating foreign direct investment and associated capital flows by nationalizing all foreign owned companies and redistributing their land while engaging an in expansive monetary policy, you're gonna run into some problems.
His government basically created money to fund his economic reforms and spur growth. But of course, without the foreign investment, inflation rates went out the roof and economic failure followed.
So yeah I think he was to blame in the sense that his expansionary monetary policy was a mistake when enacted at the same time as nationalization and land redistribution.
