How Paraguay’s Ueno Collapse Is Only Its Latest Banking Crisis

Ueno Bank was placed into resolution after its solvency ratio fell to less than half the legal requirement, triggering Paraguay’s deepest political crisis in more than a decade. President Santiago Peña, who held a stake in the bank’s parent company Grupo Vazquez until March 2025, faces impeachment despite announcing his resignation on Thursday. He requested 72 hours to prepare his defence, but the Senate met in a rare session on Friday and moved ahead with efforts to remove him. Ueno, which reported three million customers and managed $800 million in public funds, had its customer accounts frozen.