Business group Lide, led by former São Paulo governor João Doria, has postponed an event originally scheduled for 13 November to January 2027. The decision followed the impeachment and pretrial detention of Paraguayan President Santiago Peña, which stemmed from a crisis at Banco Ueno. No new date for the event has been announced.
Bank crisis widens
The trouble at Banco Ueno began after adjustments to its balance sheets during a supervisory review. The Central Bank of Paraguay said the bank’s solvency ratio had fallen to less than half the regulatory minimum. Banco Ueno served approximately 3 million clients and administered roughly 850 million US dollars in public funds, including deposits held for the Instituto de Previdência Social.
The central bank unanimously decided to begin a bank resolution procedure for Banco Ueno starting 2 November. Carlos Carvallo resigned as president of the Central Bank of Paraguay at Peña’s request as the crisis deepened.
Peña detained, successor sworn in
Congress nonetheless moved to impeach Peña. He was placed under preventive house detention on Friday, the 6th, after the impeachment vote. Vice-president Pedro Alliana was sworn in to complete the term, which runs until August 2028.
Banco Ueno had been described as the largest credit card issuer in the country. Grupo Vázquez is among the entities named in connection with the unfolding crisis.
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Source: Central Bank of Paraguay
