Paraguay Congress Impeaches President Over Bank Collapse

The fall of Ueno Bank, one of the four systemic banks in Paraguay with nearly 3 million customers, has sparked a crisis involving an impeachment against President Santiago Peña and the arrests of the former Central Bank President Carlos Carvallo, who led the private bank before being. The fall of one of the most important digital banks in Paraguay, Ueno Bank, has led to a possible impeachment of President Santiago Peña and the resignation of Carlos Carvallo, former head of the central bank, both with ties to the disgraced institution. Ueno Bank, which had nearly 3 million customers in the country and managed nearly $380 million in pension funds, had its assets seized by the central bank on Monday, after the bank’s solvency ratio fell below 50% of the required…

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