The Latin American El Dorado comes to a sudden halt: "Those in power in Paraguay are used to doing things wrong and not facing consequences"

Asunción, once seen as a promising investment hub, faces turmoil following the collapse of Ueno Bank, which affected millions of customers. The bank's failure has led to a significant increase in the country's risk and a devaluation of its currency. Ueno Bank, popular among young investors, was criticized for its lavish operations and connections to wealthy individuals. Amidst this crisis, protests have erupted, with young Paraguayans demanding political change and an end to the long-standing dominance of the Colorado Party. The situation reflects deep-seated frustrations with the political system and economic instability.