The fall of Ueno Bank is shaking the Paraguayan financial system: where did the money go?
Ueno Bank's intervention in Paraguay raises questions about the fate of the deposits of millions of users and the return of their savings. The Deposit Guarantee Fund provides resources to respond to those affected, but there are legal limits of up to $37,000 per person. This uncertainty is compounded by about $850 million in public funds that were deposited with the entity, of which some $380 million would be from the Social Security Institute (IPS). The recovery of resources will also depend on possible embargoes and the sale of
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The fall of Ueno Bank is shaking the Paraguayan financial system: where did the money go? — Image credit: France 24 (Español)
Ueno Bank's intervention in Paraguay raises questions about the fate of the deposits of millions of users and the return of their savings. The Deposit Guarantee Fund provides resources to respond to those affected, but there are legal limits of up to $37,000 per person. This uncertainty is compounded by about $850 million in public funds that were deposited with the entity, of which some $380 million would be from the Social Security Institute (IPS). The recovery of resources will also depend on possible embargoes and the sale of
