**Paraguay's Ueno Bank collapses, locking out nearly 3 million customers as lawmakers move to impeach President Peña**

The Central Bank of Paraguay shut down Ueno Bank on November 3 after its solvency ratio fell below half the legal minimum. The bank's roughly 2.9 million customers, in a country of about 6.1 million, lost access to their accounts. About $380 million in public pension investments is also awaiting recovery.

Depositors lined up outside branches and protested in Asunción, with reports of scuffles with police and tear gas. Others began a vigil outside Congress, demanding their money back and the president's impeachment.

Central bank president Carlos Carvallo, who chaired Ueno's predecessor from 2021 to 2023, has resigned. Eight bank executives have been detained, including founder Federico Vázquez, and prosecutors have charged 27 people.

On Wednesday, opposition and dissident ruling party deputies filed impeachment charges against President Santiago Peña and Vice President Pedro Alliana. Peña held shares in Ueno Holding until April 2025, but denies ever having a stake in the bank itself.

The impeachment needs 53 of 80 votes in the lower house to reach the Senate.

 [@DDGeopolitics](https://t.me/DDGeopolitics)