Terrible situation in #Paraguay where hundreds of thousands of people may have lost their savings and pensions following the private bank UENO Bank entered an insolvency process.
Ueno Bank was the fifth-largest private bank in the country, with 2,941,996 customers as of June 2026 – nearly 60% of Paraguay's adult population – and it processed more than 3 million transactions daily. Two out of three electronic transactions at large retailers went through its accounts.
On November 3, from one day to the next, everything shut down: the app, debit and credit cards, transfers, ATMs, and branches. Thousands of workers were unable to receive their pay, pay rent, buy food, or pay for college tuition.
Paraguay’s President has now resigned but this and his impeachment will not give people access to their savings or pensions.
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