Heat the vegetable oil in a large skillet over medium heat. Once hot, add the diced onion and let it cook until translucent, about 3 to 4 minutes.

Incorporate the minced garlic and diced green bell pepper, sautéing them for 2 to 3 minutes until softened.

Add the ground beef to the skillet, breaking it apart with a spoon. Cook until browned and no longer pink, around 5 to 7 minutes. Drain any excess fat if necessary.

Stir in the diced potato, chopped green chiles, ground cumin, dried oregano, paprika, salt, and black pepper. Mix well to combine all the flavors.

Pour in the beef broth or water, bringing the mixture to a gentle simmer. Cover the skillet, reduce the heat to low, and cook for 20 to 25 minutes, stirring occasionally, until the potatoes are tender.

Before serving, taste and adjust the seasoning as needed. If the mixture appears too dry, feel free to add a splash more broth.

Remove from heat, let it rest for a few minutes, and garnish with freshly chopped cilantro.