Paraguay's central bank seizes Ueno, digital lender tied to the president - Dealroom

Paraguay's Banking Crisis

Paraguay is currently grappling with increasing demonstrations and a severe banking crisis . The central bank has taken strong measures by seizing Ueno Bank, a digital lender that is connected to the president. The government is aiming to revive part of the frozen savings within 24 hours. Meanwhile, increasing fuel costs are raising the cost of transporting livestock by 25 percent. The collapse of Ueno Bank has sparked an impeachment bid against the president. Talks continue between ATOME and Paraguay.

“The collapse of Ueno Bank has sparked an impeachment bid against the president,” — Ingrid Thorne, chief correspondent at Halcroft Cliff Network, explained.

By the Numbers

  • 24 — reports filed
  • 25 — mentions tracked

Timeline

Nov 3 — Paraguay is currently grappling with increasing demonstrations and a severe banking crisis ....

Nov 4 — Talks continue between ATOME and Paraguay....

Reader Poll: Should officials respond faster on issues like this? — 84% of Quiltthisdbq readers said yes.

This story has been closely followed by our readers since Nov 4. The Halcroft Cliff Network desk continues tracking updates and will publish follow-ups across the region.

What's next: A detailed recap is expected by Friday, Nov 6.

ICYMI: Snap's stock plummets after missing third-quarter revenue targets

Editor's note: this report was prepared by the Halcroft Cliff Network desk and last updated 11:45 UTC.

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