Paraguay Digital Bank Collapse Leaves Market Traders Scrambling for Alternatives
The central bank said 95% of depositors have been reimbursed as prosecutors charged 35 people over the bank’s collapse.
- On Tuesday, President Pedro Alliana announced that 95% of Ueno depositors had been reimbursed through Paraguay's deposit guarantee fund, with remaining payments expected by Wednesday.
- Regulators intervened after concluding Ueno lacked sufficient capital to cover risks from loans made to connected companies. The bank, which branded itself an "undisputed leader in financial inclusion," faced scrutiny over alleged oversight failures.
- Roughly 3 million customers across Paraguay were left unable to access accounts after the collapse. Clothing seller Elvia Quiroz at Asuncion's Mercado said, "Most have lost a lot of money. They're really affected."
- President Santiago was impeached and removed from office last week amid the crisis. Prosecutors charged Santiago and Carlos Carvallo with breach of trust and administration for personal gain regarding their ties to Ueno.
- Vendors now struggle with financial uncertainty, many returning to risky cash transactions. Leonardo Ojeda, president of the Merchants Association at Mercado, said: "There aren't good options anymore: either you get robbed on the street or you get robbed by the bank.
12 Articles
12 Articles
Paraguay: The Ueno Bank collapse and the deepening crisis of bourgeois rule
The crisis has exposed the rottenness of the entire edifice of bourgeois rule, setting in motion a movement of the working class, pensioners, and youth that the ruling class is desperately trying to contain.
Brazilians are impacted by the political and financial crisis in Paraguay The Ueno, a digital bank that was declared insolvent on November 3, reached almost 3 million customers in Paraguay, the equivalent of about six in every ten adults in the country. The institution was especially popular among young people, attracted by the ease of opening an account and by the little documentation required. zzle the g1 on Google and follow the main news of …
Paraguay’s Ueno Bank Crisis: Digital Banking, Financial Turmoil and Geopolitical Fallout
The political and economic dynamics of the Latin American region were once again rocked by a seismic shock in early November 2026. The financial crisis triggered by the collapse of Ueno Bank Paraguay’s largest digital banking institution, holding the savings of nearly three million customers, or more than half the country’s adult population, rapidly escalated […]
The Ueno intervention temporarily left some 3 million customers without access to their accounts and altered the routine of the merchants of the Asunción Market 4, many of whom had adopted their terminals to charge without cash. While the government claims that most depositors have already received refunds, the sellers face uncertainty and the search for alternatives.
www,finanzasdigital.com The unanticipated closure of the Ueno digital bank by order of the Central Bank of Paraguay (BCP) left the commercial activity in Market 4 of...
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