U.S. Treasury Secretary Scott Bessent stated that the U.S. government's investment in the Argentine peso had been a success, with the initial American financial support having been repaid and the U.S. no longer holding any Argentine pesos in its exchange stabilization fund. The U.S. had purchased the Argentine currency last year when its value was declining, aiming to prevent further economic instability and support President Javier Milei's party ahead of national midterm elections.

Bessent described the outcome as a "homerun deal," emphasizing the dual benefits of stabilizing a key American ally and generating profits for the United States. "Stabilizing a strong American ally and making tens of millions in profit for Americans is an America First homerun deal," he wrote in a social media announcement.

The intervention occurred in September when investors were selling off the peso, influenced by previous economic shocks following elections and concerns about the potential performance of Milei's party in the midterms. Bessent had pledged to take necessary actions to stabilize the currency at the time.

The move, however, drew criticism from some Democrats, who argued that Bessent was risking taxpayer money in a country known for its history of financial instability. Critics questioned the wisdom of investing in the Argentine peso, given the country's economic track record.

The U.S. government's decision to intervene was intended to provide stability to the Argentine economy during a period of uncertainty. President Milei is considered a key ally of former U.S. President Donald Trump, adding a political dimension to the financial support. The exchange stabilization fund is a mechanism used by the U.S. Treasury to manage currency fluctuations and support international economic stability.