Paraguay’s President Impeached After a Bank Collapse
The Paraguayan Senate dismissed Santiago Peña on Friday, November 6, the day after his resignation, following the collapse of Ueno Bank. The digital bank claimed nearly 3 million clients and held about 800 million dollars in public deposits. The story of Ueno is not new. Originally, the institution was just a small financial company founded in the 1970s. Grupo Vázquez bought it in 2021 before obtaining authorization from the central bank to launch a digital bank in November 2023.