Browsing: Paraguay

Santiago Peña’s rightwing administration had authorised Ueno Bank to drastically expand operations before collapse

A sudden blank screen startled the almost three million customers of Ueno Bank in the early hours of Tuesday 3 November. At around 03:24, the app of the Paraguayan institution, a key player in the system that manages state funds worth millions and has grown at breakneck speed in its three years of existence, stopped…

Paraguayan President Santiago Pena resigned on Thursday after calls for his removal swelled following the collapse of digital lender ueno that left millions of customers unable ‌to access their accounts.