Paraguay Central Bank freezes Ueno Bank deposits
Paraguay's central bank intervened in Ueno Bank, blocking withdrawals and sparking protests in Asunción.
English · Original discussion in Spanish · Published
The Central Bank of Paraguay has taken preventive control of Ueno Bank, leaving millions of customers unable to access their savings and affecting state deposits. Protests erupted in downtown Asunción, leading to clashes with police, while President Santiago Peña demanded the resignation of the central bank director.
The **preventive intervention** by the **Central Bank of Paraguay** in **Ueno Bank** has cut off millions of clients from their funds. Retirees and savers are among those affected, and the measure also impacts government deposits. Tensions flared in downtown **Asunción**, where depositors clashed with security forces amid tear gas use.
## Withdrawals blocked by closure
The Central Bank of Paraguay ordered the preventive closure and intervention of Ueno Bank. The immediate consequence is that customers cannot access their savings. The measure applies equally to individuals and institutions: state deposits have also been frozen. This type of decision is typically taken when an entity faces solvency or liquidity issues, though the exact scope of the intervention remains unclear.
Comparisons are circulating with Argentina's 2001 corralito. That episode, under **Fernando de la Rúa**'s government, limited cash withdrawals to **250 pesos or dollars per week**. The key difference is that the restriction then applied to the entire banking system; here, the freeze affects only one specific institution.
## Protests and political pressure in Asunción
Clashes between depositors and police occurred in the streets of downtown Asunción, involving scuffles and tear gas. President **Santiago Peña** explicitly called for the resignation of the director of the Central Bank of Paraguay. This signals that the crisis is not merely financial: the political cost of the intervention is already being paid.
## Scope of the intervention
The intervention leaves millions of customers without access to their funds. There is no official figure for the total amount of blocked deposits nor the exact number of affected accounts. A timeline for refunds or reopening has not been published. Meanwhile, tensions remain high in Asunción, and pressure on the Central Bank continues.
The **preventive intervention** by the **Central Bank of Paraguay** in **Ueno Bank** has cut off millions of clients from their funds. Retirees and savers are among those affected, and the measure also impacts government deposits. Tensions flared in downtown **Asunción**, where depositors clashed with security forces amid tear gas use.
## Withdrawals blocked by closure
The Central Bank of Paraguay ordered the preventive closure and intervention of Ueno Bank. The immediate consequence is that customers cannot access their savings. The measure applies equally to individuals and institutions: state deposits have also been frozen. This type of decision is typically taken when an entity faces solvency or liquidity issues, though the exact scope of the intervention remains unclear.
Comparisons are circulating with Argentina's 2001 corralito. That episode, under **Fernando de la Rúa**'s government, limited cash withdrawals to **250 pesos or dollars per week**. The key difference is that the restriction then applied to the entire banking system; here, the freeze affects only one specific institution.
## Protests and political pressure in Asunción
Clashes between depositors and police occurred in the streets of downtown Asunción, involving scuffles and tear gas. President **Santiago Peña** explicitly called for the resignation of the director of the Central Bank of Paraguay. This signals that the crisis is not merely financial: the political cost of the intervention is already being paid.
## Scope of the intervention
The intervention leaves millions of customers without access to their funds. There is no official figure for the total amount of blocked deposits nor the exact number of affected accounts. A timeline for refunds or reopening has not been published. Meanwhile, tensions remain high in Asunción, and pressure on the Central Bank continues.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (3 replies).
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