Paraguay's president resigns amid banking crisis
reuters.comIn 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-...
[1] does not support the sentence that it is in and is merely the article we just read.
[3] provide some good background
[4] I believe Trump believes he is the center of the world, but I'm not sure why you do. Why does it matter if he is a trump ally or a Morales ally?
> is merely the article we just read
Whoops! Fixed.
> Why does it matter if he is a trump ally or a Morales ally?
I don't think the timing of this collapse is independent of Trump losing power in America.
I'd watch if any large foreign depositors withdrew a large sum after the election results came through. Or if Ueno was counting on something from D.C. that Peña had promised and would–in the new political reality–be unable to deliver.