In September 2025 Ueno lent, without collateral, ~$40mm to related parties; in January and February 2026 it lent them a further $60mm via overdrafts [1]. In June, Paraguay's central bank started asking questions. In October, Fitch missed the ball [2]. And last week October, unions asked the state pension to pull their deposits [3].
Note that former President Peña is a Trump ally [4]. (Peña appointed the former Ueno chief to Paraguay's central bank.)
> Why does it matter if he is a trump ally or a Morales ally?
I don't think the timing of this collapse is independent of Trump losing power in America.
I'd watch if any large foreign depositors withdrew a large sum after the election results came through. Or if Ueno was counting on something from D.C. that Peña had promised and would–in the new political reality–be unable to deliver.
In September 2025 Ueno lent, without collateral, ~$40mm to related parties; in January and February 2026 it lent them a further $60mm via overdrafts [1]. In June, Paraguay's central bank started asking questions. In October, Fitch missed the ball [2]. And last week October, unions asked the state pension to pull their deposits [3].
Note that former President Peña is a Trump ally [4]. (Peña appointed the former Ueno chief to Paraguay's central bank.)
[1] https://www.minuto60.com/economia/cronologia-crisis-ueno-ban...
[2] https://www.fitchratings.com/research/banks/fitch-revises-ue...
[3] https://www.riotimesonline.com/paraguay-unions-urge-pension-...
[4] https://www.bloomberg.com/news/features/2026-03-20/paraguay-...
[1] does not support the sentence that it is in and is merely the article we just read.
[3] provide some good background
[4] I believe Trump believes he is the center of the world, but I'm not sure why you do. Why does it matter if he is a trump ally or a Morales ally?
> is merely the article we just read
Whoops! Fixed.
> Why does it matter if he is a trump ally or a Morales ally?
I don't think the timing of this collapse is independent of Trump losing power in America.
I'd watch if any large foreign depositors withdrew a large sum after the election results came through. Or if Ueno was counting on something from D.C. that Peña had promised and would–in the new political reality–be unable to deliver.