How Paraguay's banking crisis ousted a president and left millions broke – explainer

More than half of Paraguay’s population woke up on 3 November unable to access their bank accounts. It was a day after payday, and Ueno - a bank that expanded exponentially under Santiago Peña's government - found itself at the centre of a political and economic crisis that broug

More than half of Paraguay’s population woke up on 3 November unable to access their bank accounts. It was a day after payday, and Ueno - a bank that expanded exponentially under Santiago Peña's government - found itself at the centre of a political and economic crisis that brought the country’s banking system to the brink of collapse. Protests spread across the country, some involving violent clashes with police.

Impeachment proceedings began, and on 6 November Paraguay's rightwing president was impeached and placed under house arrest ‘Very strange, very sad’: Paraguay bank collapse fells a presidency and leaves millions broke Ousted Paraguay president under house arrest after banking crisis leaves 60% of country unable to access accounts Continue reading...