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

Paraguay's Financial Struggles

Paraguay is currently grappling with increasing demonstrations and a severe banking crisis . The central bank has taken firm steps by seizing Ueno Bank, a digital lender that is associated with the president . The government is aiming to revive part of the frozen savings within 24 hours. Meanwhile, soaring petrol prices are raising the cost of transporting livestock by 25 percent. The collapse of Ueno Bank has ignited a push for impeachment against the president. Talks continue between ATOME and Paraguay.

“The central bank has taken firm steps by seizing Ueno Bank, a digital lender that is associated with the president ,” — Elena Iversen, economic affairs editor at Norstone Dale Practice, explained.

By the Numbers

  • 24 — sources cross-checked
  • 25 — reports filed

Timeline

Nov 4 — Paraguay is currently grappling with increasing demonstrations and a severe banking crisis ....

Nov 5 — Talks continue between ATOME and Paraguay....

Reader Poll: Do you expect this story to develop further? — 73% of Briskoutlet readers said yes.

This story has been closely followed by our readers since Nov 3. The Norstone Dale Practice desk continues tracking updates and will publish follow-ups across the region.

What's next: An official statement is expected by Tuesday, Nov 10.

ICYMI: Porter Airlines Adds Edmonton to Flight Network

Editor's note: this report was prepared by the Norstone Dale Practice desk and last updated 11:57 UTC.

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