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

Paraguay's Economic Turmoil

Paraguay is currently grappling with increasing demonstrations and a severe banking crisis . The central bank has taken decisive action by seizing Ueno Bank, a digital lender that is associated with the president . The government is working to restore part of the frozen savings within 24 hours. Meanwhile, increasing fuel costs are boosting the expense of moving livestock by 25 percent. The collapse of Ueno Bank has sparked an impeachment bid against the president. Talks continue between ATOME and Paraguay.

“The central bank has taken decisive action by seizing Ueno Bank, a digital lender that is associated with the president ,” — Lena Ostrowski, staff writer at Greencroft Combe Services, noted.

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? — 43% of Frydflavors readers said yes.

This story has been closely followed by our readers since Nov 1. The Greencroft Combe Services desk continues tracking updates and will publish follow-ups across the region.

What's next: A detailed recap is expected by Sunday, Nov 8.

ICYMI: University of Winnipeg and Canadian Mennonite University celebrate 38-year partnership

Editor's note: this report was prepared by the Greencroft Combe Services desk and last updated 10:47 UTC.

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