Paraguay seizes major digital bank tied to president, leaving millions of customers in limbo

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1. 2h ago

   Paraguay seizes digital bank tied to president, sparking impeachment calls

   Paraguay's central bank seized Ueno Bank, a major digital lender linked to the government, leaving millions of customers locked out of their accounts. The bank's collapse has sparked calls for President Mario Abdo Benítez's impeachment, with lawmakers debating the president's fate. The crisis has raised concerns about the country's financial stability and the government's involvement in the banking sector.

   Why it matters

   The bank seizure and impeachment calls come amid a deepening financial crisis in Paraguay, a landlocked country in South America with a population of nearly 6.5 million people. The country's economy has been growing steadily, but the banking sector has faced challenges in recent years. The Ueno Bank collapse has raised questions about the government's oversight of the financial sector and its ties to the bank.

   What is confirmed

   • Paraguay's central bank seized Ueno Bank, a major digital lender linked to the government.
   • The bank's collapse has left millions of customers locked out of their accounts.
   • Lawmakers have called for President Mario Abdo Benítez's impeachment.
   • The Paraguayan Congress has begun debating the president's impeachment.

   Still unconfirmed

   • The president was placed under house arrest after being removed from office following the bank collapse.

   What to watch next

   • The outcome of the impeachment debate in the Paraguayan Congress
   • The decision on whether to place President Mario Abdo Benítez under formal arrest
   • The impact of the bank collapse on Paraguay's financial stability
   Sources used for this update (13)

   1. Los Angeles Times — Paraguay seizes major digital bank tied to president, leaving millions of customers in limbo
   2. Reuters — Paraguay bank crisis spurs lawmakers' calls to impeach president
   3. Bloomberg.com — Paraguay Leader Faces Impeachment Vote as Banking Crisis Spirals
   4. The Economist — Paraguay’s swaggering digital bank has fallen
   5. U.S. News & World Report — Paraguay Congress Begins Session to Debate President Peña's Impeachment
   6. en.wikipedia.org — Paraguay - Wikipedia
   7. www.worldatlas.com — Paraguay Maps & Facts - World Atlas
   8. es.wikipedia.org — Paraguay - Wikipedia, la enciclopedia libre
   9. en.wikipedia.org — History of Paraguay - Wikipedia
   10. www.lonelyplanet.com — A Guide to Paraguay - Lonely Planet
   11. worldlyknown.com — What is Paraguay Known For? (18 Things It's Famous For)
   12. www.europesays.com — How one bank’s collapse is upending Paraguay, trapping savings and threatening its president
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