Paraguay's President Peña resigns as Ueno Bank collapse freezes savings and sparks protests
Summary
Paraguay's Ueno Bank was shut down in the middle of the night over a solvency crisis, and Al Jazeera reported that protests erupted across the country. Le Monde reported that the central bank took control of the bank on Tuesday, citing a severe capital shortfall. Euronews described an accounting hole that is wiping out public funds, leaving thousands of citizens without access to their deposits and pushing Paraguay into what it called its worst institutional crisis in years. DW reported that millions of customers' accounts are frozen and that public pension and health care funds are also tied up. The Guardian reported that Ueno grew under President Santiago Peña from an obscure digital bank into one of the country's largest lenders, claiming about 60% of the adult population as customers, after being authorised to drastically expand its operations. The Guardian and DW reported that Peña resigned amid the crisis over his ties to Ueno, and Euronews reported that he was later impeached over an alleged conflict of interest, with Vice President Pedro Alliana set to take office. Hindustan Times reported that the opposition moved to impeach him, and a Euronews headline said the ousted president was placed under house arrest.
Timeline
Al Jazeera
Source ↗Al Jazeera reported that Ueno Bank was shut down in the middle of the night over a solvency crisis, and that protests have erupted across Paraguay as about half of the population's savings are put at risk.
Euronews
Source ↗Euronews reported that an accounting hole at Ueno Bank wipes out public funds and leaves thousands of citizens without access to their deposits, pushing Paraguay into its worst institutional crisis in years.
Euronews
Source ↗Euronews reported that the accounting black hole at Ueno Bank is draining public funds and leaving thousands unable to access their deposits, which it said is pushing Paraguay into its worst institutional crisis in years for President Peña.
Euronews
Source ↗Euronews reported that the liquidation of Ueno Bank has triggered political turmoil in Paraguay and an impeachment move against Peña.
Euronews
Source ↗Euronews reported that the collapse of Ueno Bank swallows public funds, leaves thousands of citizens without access to their deposits, and has sparked a political crisis and an impeachment move against Peña.
Euronews
Source ↗Euronews reported that the Ueno Bank collapse has prompted President Santiago Peña to resign, as the accounting black hole wipes out public funds and leaves thousands without access to their deposits.
DW
Source ↗DW reported that President Santiago Peña resigned amid a crisis over his ties to the collapsed lender Ueno, with millions of customers' accounts frozen and public pension and health care funds also tied up.
Hindustan Times
Source ↗Hindustan Times reported that the banking crisis has triggered protests as millions are locked out of their accounts, and that Paraguay's opposition is moving to impeach President Santiago Peña.
Le Monde
Source ↗Le Monde reported that protests roiled Paraguay after a bank linked to President Santiago Peña blocked millions of people from their money, and that the central bank took control of Ueno Bank on Tuesday citing a severe capital shortfall.
The Guardian
Source ↗The Guardian reported that Peña resigned on Thursday after a political and financial crisis collapsed the banking system, and that Ueno Bank had been authorised to drastically expand operations under his administration.
Euronews
Source ↗Euronews reported that Peña resigned amid the Ueno Bank crisis and was later impeached over an alleged conflict of interest, with Vice President Pedro Alliana set to take office while millions wait to recover their deposits.
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