Paraguay in Crisis: Ueno Bank Collapse Sparks Protests and Impeachment of President Peña

tg24.sky.it (Italian) —

The collapse of Ueno Bank in Paraguay has blocked savings for about three million citizens, triggering panic and violent protests, and leading President Santiago Peña to announce his resignation while Congress pursues impeachment. The bank, founded in 2021, managed roughly $850 million in public funds before authorities discovered risky loans to shareholder-linked companies. Central Bank intervention froze accounts Tuesday, with about 7,000 jobs affected and a state guarantee fund approved for most depositors. Peña, who held shares in a company linked to the bank until March 2025, faces conflict-of-interest accusations. Congress rejected his resignation to avoid granting him lifetime senator immunity, with Vice President Pedro Alliana set to assume power if impeachment succeeds.


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