Paraguay’s Ueno Bank Crisis: Depositors, Pension Funds, and a President Removed

Paraguay’s central bank placed Ueno Bank into resolution after accounting adjustments pushed its solvency ratio below half the legal minimum. Guarantee advances reached more than 1.8 million entitled depositors, but uninsured deposits, public and pension exposure, disputed related-party lending, and asset recoveries remain unresolved. Within days, the Senate removed President Santiago Peña and installed Vice President Pedro Alliana, turning a bank intervention into a national test of financial regulation, political accountability, and who ultimately absorbs the losses.

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