From The Federal
Center-Left Owned by New Generation Media Corporation Pvt. Ltd.Paraguay crisis explained: How a bank collapse brought down a president
What's behind this
The crisis began when regulators seized Ueno Bank, freezing the savings and pension accounts of millions of customers and locking almost half the country out of their money. Allegations of cronyism accompanied the bank failure, and the sudden loss of access triggered a rapid political fallout that unfolded over four days. President Santiago Peña was impeached and placed under house arrest, and the Senate appointed former Vice President Pedro Alliana as the new president of Paraguay.
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left · 2 outlets
A bank failure, frozen savings and allegations of cronyism brought down Paraguay's president. Here's how the crisis unfolded
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center · 3 outlets
Paraguay's Senate has removed President Santiago Peña over allegations linked to the collapse of Ueno Bank.
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right · 3 outlets
Paraguayan officials put former President Santiago Pena under house arrest on Friday, shortly after lawmakers impeached him amid a political and financial crisis triggered by the collapse of digital bank ueno.
— NDTV
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A bank failure, frozen savings and allegations of cronyism brought down Paraguay's president. Here's how the crisis unfolded
