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The story so far · 9 days, November 4 to 12, 2026
One Turn followed this story across 9 editions, from Asunción, Paraguay on November 4, 2026. Newest first.
Ueno Bank collapsed last week.
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Paraguay's central bank returned part of savings to eligible Ueno Bank depositors after the lender's collapse last week. Prosecutors opened a vault at former President Peña's house and found it empty. Peña faces possible prison time, and 27 others are involved.
Why it matters: Savers lost access to deposits.
Sources: France 24, MercoPress, ANSA · See it on the globe
Paraguay's central bank partly repaid more than 1.8 million Ueno Bank savers. Prosecutors say ex-president Peña risks up to 15 years in prison. New president Pedro Alliana vowed to recover pension funds.
Why it matters: The bank collapse toppled a president and hit savers.
Sources: Le Monde, Euronews, ANSA · See it on the globe
President Pedro Alliana appointed Jorge Schreiner to lead the central bank; the Senate approved. Alliana vowed to recover pension funds hit by Ueno Bank's collapse.
Why it matters: It aims to calm savers after a bank run.
Sources: Reuters via Wikipedia, Euronews, La Nación · See it on the globe
President Pedro Alliana named Jorge Schreiner central bank head and the Senate approved. Prosecutors searched a home of ousted president Peña.
Why it matters: Nearly three million people were locked out of accounts.
Sources: Reuters via Wikipedia, MercoPress, NPR · See it on the globe
Prosecutors charged Santiago Peña after the Senate removed him. He was moved to prison without privileges. Compensation for Ueno Bank clients has begun.
Why it matters: It is a major test of Paraguay's institutions.
Sources: CBC News, MercoPress, France 24 · See it on the globe
Paraguay's Senate unanimously removed President Santiago Peña on Friday over the collapse of Ueno Bank. He was then placed under house arrest. Vice President Pedro Alliana was sworn in as president. Regulators had seized the digital bank, leaving millions of customers unable to reach savings and pension payments. Protesters clashed with police outside Peña's home and demanded jail rather than house arrest. Alliana promised to compensate savers. Peña was moved to a military unit for his safety and is due to give testimony to prosecutors.
Why it matters: A bank failure toppled a president and left a large share of Paraguayans cut off from their money.
Sources: BBC News, The Guardian, MercoPress · See it on the globe
Paraguay's Senate removed President Santiago Peña on Friday over the collapse of Ueno Bank. Vice President Pedro Alliana was sworn in soon after. Prosecutors ordered Peña held at home on suspicion of breach of trust and influence peddling. The vote was unanimous in the Senate. Reports say the bank's failure left about 60% of people unable to reach their accounts. Alliana promised to compensate savers. Brazil's President Lula wished him full success.
Why it matters: Millions of Paraguayans cannot reach their savings, and the country has changed its leader in the middle of a banking crisis.
Sources: MercoPress, The Guardian, Al Jazeera · See it on the globe
President Santiago Peña resigned on Thursday, and lawmakers voted unanimously to impeach him minutes later. Ueno Bank collapsed and froze savings for about 3 million customers. Prosecutors opened a criminal inquiry into Peña, and he says he will defend himself. Protesters and police clashed outside Congress. Refunds to account holders of up to 10 million guaraníes start on November 6.
Why it matters: The crisis left about half the country without access to savings and has toppled a US ally.
Sources: BBC News, NPR, France 24 · See it on the globe
The central bank intervened after solvency fell below half the legal minimum. Lawmakers filed impeachment charges against President Peña.
Why it matters: Millions of customers lack access to savings.
Sources: MercoPress, UPI, La Nación · See it on the globe