EconomyUeno Bank scandal plunges Paraguay into political crisis
Ueno Bank’s sudden collapse has plunged Paraguay into a serious crisis involving suspected financial fraud, public funds at risk and millions of customers. President Santiago Pena faces impeachment; the Chamber of Deputies voted unanimously to impeach him, and the Senate has opened proceedings.
DDWOriginal★★★★☆2026-11-06 20:23
Why is Paraguay facing a banking and political crisis?The collapse of Ueno, a rapidly growing digital lender, has left millions unable to access their savings and raised questions about state influence and accountability. Paraguay is in political turmoil, with Congress rejecting President Santiago Pena’s resignation and pursuing impeachment. Pena is accused of negligence and complicity in an alleged cover-up of the bank’s insolvency.
Paraguay’s Ueno collapse fuels banking crisis and impeachment pushParaguay’s President Santiago Pena faces impeachment after Ueno Bank collapsed, amid scrutiny of his ties to its parent company. The central bank found the bank’s capital ratio had fallen below half the legal requirement and froze customer accounts, leaving depositors unable to withdraw money or make digital payments.
Paraguay resumes Pena impeachment proceedings as financial crisis deepensParaguay’s Senate has resumed impeachment proceedings against President Santiago Pena, who resigned amid a financial crisis following the collapse of digital lender Ueno Bank. The lower house approved charges 78–0. The bank’s failure left more than half the population unable to access their accounts, and Pena requested 72 more hours to prepare his defence.
