AGP Executive Report
Last update: 11 hours agoBanking Crisis: Paraguay’s central bank placed Ueno Bank into resolution after finding a severe capital shortfall, leaving about 3 million customers unable to access their accounts. The lender also held hundreds of millions of dollars in public and pension funds. Political Fallout: President Santiago Peña offered to resign, but Congress did not accept the resignation after a session lost quorum. The lower house voted 78–0 to impeach him, and the Senate is proceeding with a trial; prosecutors have opened investigations into the bank’s collapse and the handling of public funds. Peña, who held shares in Ueno’s parent group until 2025, denies wrongdoing and says he will defend himself. Market Impact: Paraguay’s guaraní fell nearly 5% against the dollar and sovereign bonds slid as the turmoil rattled investor confidence. The repayment of depositors remains unresolved.
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