Ueno Bank, a digital lender linked to Paraguay’s president’s family, faces seizure and collapse amid a political crisis over its rapid expansion and ties to the ruling circle.
Paraguay has faced a rapid collapse of Ueno Bank, a lender linked to President Peña, as regulators place it into resolution. The move effects roughly 60% of adults and triggers impeachment debates after two top aides resign and opposition calls for accountability. Deposits are being safeguarded while the government navigates a broader political crisis.
Paraguay has impeached President Santiago Pena after a rapid scandal over Ueno Bank’s collapse, which has frozen millions of depositor accounts and drawn protests. Central bank actions and a widening investigation point to broader regulatory and political upheaval in a country long seen as stable.
Paraguay’s president has faced impeachment amid a banking crisis tied to Ueno Bank, which froze deposits for millions of customers, provoking protests and prompting a central bank resolution. Protests intensify as lawmakers debate accountability and the future leadership.