Bank having half of population's savings collapses overnight in Paraguay

Protests have broken out across Paraguay after the central bank placed Ueno Bank under resolution early Tuesday over breaches of minimum solvency requirements. The move left roughly 3 million customers, in a country of 6.5 million people, unable to access their accounts. President Santiago Pena was a shareholder in Ueno's parent company, Grupo Vázquez, until March 2025.