U.S. Treasury Secretary Scott Bessent stated that the U.S. government's investment in the Argentine peso was a success, with American financial support repaid and the exchange stabilization fund cleared of Argentine pesos. The U.S. had purchased the devaluing currency in September 2023 to prevent further economic instability and to support President Javier Milei's party ahead of midterm elections.

Bessent described the move as an "America First homerun deal," citing the stabilization of a key American ally and the generation of tens of millions in profit for American taxpayers. The intervention occurred amidst a period of peso dumping, driven by historical financial shocks following elections and concerns about the potential performance of Milei's party in the midterms. Bessent had pledged to take necessary measures to stabilize the currency at the time.

The decision to intervene in Argentina's currency market drew criticism from Democrats, who argued that it risked taxpayer money in a nation known for financial instability. Critics pointed to Argentina's history of economic crises and questioned the wisdom of investing in its currency.

The U.S. government's intervention aimed to bolster confidence in the Argentine economy and provide stability during a period of political transition. President Milei, considered a key ally of former U.S. President Donald Trump, had implemented a series of economic reforms aimed at addressing Argentina's long-standing financial challenges.

The repayment of the U.S. financial support and the clearing of Argentine pesos from the exchange stabilization fund mark the conclusion of this particular intervention. The long-term effects of the U.S. intervention on the Argentine economy and its relationship with the United States remain to be seen.