Paraguay partially refunds Ueno Bank depositors after collapse
Summary
Paraguay’s Central Bank said it had made partial refunds to all eligible Ueno Bank depositors after the bank collapsed. The collapse prompted protests and the impeachment and arrest of former president Santiago Peña, who faces allegations over government deposits to the bank and denies wrongdoing.Key Facts
- The Central Bank said 1,812,348 people received partial refunds through the deposit guarantee fund.
- Central Bank official Pedro Acosta said all clients eligible for the fund had received at least some of their money.
- Ueno Bank was taken over on November 3 amid concerns about its financial health.
- Ueno held more than $800 million in public funds, and most of its money had not been recovered, according to the article.
- Ueno executives and shareholders are not eligible for the deposit guarantee fund.
- Peña owned shares in Ueno’s holding company until he sold them last year.
- Peña is accused of steering government deposits to Ueno and concealing or downplaying its financial problems; he denies the charges.
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