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Paraguay’s impeached president Santiago Peña was on Saturday charged over his business links to a major online bank whose sudden collapse locked millions of people out of their money and sparked angry protests.
The scandal put Paraguay's political and financial system against the ropes.
The Central Bank of Paraguay initiated the return of deposits to Ueno Bank customers, which was involved in solvency problems. At this first stage, payments are aimed at small savers who meet the requirements established by the authorities. The measure comes in the midst of criticism, protests and uncertainty about the recovery of funds from other depositors affected by the crisis.
Peña presented her resignation from the Ueno Bank crisis, but Deputies approved the indictment and referred it to the Senate. About three million customers still have no access to their money.
Suspected financial fraud, public money at risk and millions of customers affected: Paraguay is in serious crisis following the sudden collapse of Ueno Bank. President Santiago Pena is facing impeachment.
Lawmakers have voted to impeach Paraguay’s President Santiago Pena amid a banking collapse that has roiled the country.
The Ueno Bank scandal costs Paraguay's President, Santiago Peña. The president presented his resignation in the midst of the crisis unleashed by the intervention and closure of the digital bank, which affects almost three million customers, who fear that they will not be able to recover their money.
Paraguay's President Santiago Pena has resigned amid a crisis over his ties to collapsed lender Ueno. Millions of customers' accounts are frozen, with public pension and health care funds also tied up.
In recent years, Paraguay has gained importance as an investment destination for its stability; however, the resignation of President Santiago Peña completely changes the picture. We spoke to Gabriel Giménez Roche, political analyst and professor of economics at NEOMA Business School, about what is happening in terms of the country's reliability and international qualifications.
The intervention of Ueno Bank, one of Paraguay's largest financial institutions, has shaken the country's banking system and its political leadership. The President of the country is facing a political trial that could be approved on Thursday.
French regional bank Crédit Mutuel Arkéa said Wednesday it had been hit by a cyberattack that led to fraudulent transfers worth around 100 million euros ($112 million). The bank said the attack, which has since been "contained", allowed hackers to access its own accounts and transfer funds to other banks. Customer accounts were not affected, and no losses were reported by clients.
One policymaker voted to raise the bank's key interest rate to 4.25%.
Job, loans and savings are all affected by the rise in interest rates announced by the Bank of England.
A cyberattack on several blood banks tried to raise temperatures to extremely high levels but was thwarted before it could do any damage to blood products or samples, French authorities said. The incident comes after supermarkets in a number of European countries reported this week that their fridges and freezers warmed up after they were remotely taken over, resulting in tons of spoiled food at a total cost of millions of euros.
The occupied West Bank is not an obvious breeding ground for sporting success. But Mariam Bsharat, 17, has beaten the odds to become a karate world champion and is making a new life in Germany.
Protests have erupted across Paraguay after Ueno Bank was shut down in the middle of the night over a solvency crisis.
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
IDBI workers demand the government "cancel the privatization process" and work to strengthen the bank while protecting public investment and staff interests.
