Ueno Bank and the Corralito: How Paraguay’s Crisis Differs From Argentina’s in 2001
4 Articles
4 Articles
'We woke up with nothing of the money', says woman who had blocked values at Ueno Bank The crisis involving Ueno Bank, one of the largest digital banks in Paraguay, affects about 3 million customers, among them, the entrepreneur Jhenifer Vogado. Daughter of Brazilians, resident of Santa Rosa del Monday, city that is about 57 kilometers from Foz do Iguaçu, she needed help from family members to buy medicines for the 3 year old son, who is sick, a…
The banking intervention that is lived for these hours in Paraguay and the Argentine corral that was applied 25 years ago, are similar, but they are not the same.
The intervention of Ueno Bank left almost three million customers without access to their accounts. The crisis affected students, independent workers and small business people. The fall of Ueno Bank, one of Paraguay’s main financial institutions, not only sparked a political scandal that splashed President Santiago Peña and ended with the arrest of [...]
Economist Victor Raúl Benitez compared the Paraguayan financial situation with the Argentine corral of 2001, questioned Santiago Peña’s management and warned about the deterioration of the economic model that was presented as an example in the region. Read more
Coverage Details
Bias Distribution
- 100% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
