Paraguay's president resigns amid banking crisis

In September 2025 Ueno lent, without collateral, ~$40mm to related parties; in January and February 2026 it lent them a further $60mm via overdrafts [1]. In June, Paraguay's central bank started asking questions. In October, Fitch missed the ball [2]. And last week October, unions asked the state pension to pull their deposits [3].

Note that former President Peña is a Trump ally [4]. (Peña appointed the former Ueno chief to Paraguay's central bank.)

[1] https://www.minuto60.com/economia/cronologia-crisis-ueno-ban...

[2] https://www.fitchratings.com/research/banks/fitch-revises-ue...

[3] https://www.riotimesonline.com/paraguay-unions-urge-pension-...

[4] https://www.bloomberg.com/news/features/2026-03-20/paraguay-...