Ueno Bank collapse in Paraguay prompts President Santiago Peña to resign

Ueno Bank's sudden collapse has left millions without access to their funds, triggering a political crisis in Paraguay. The Central Bank announced the bank's liquidation after its solvency ratio fell below 50%. Protests erupted as customers demanded access to their savings, fearing a loss of pensions and healthcare funds. President Santiago Peña faced impeachment proceedings but resigned amid accusations of mismanagement and fraud. The fallout has severely impacted the economy, with major retailers reporting a significant drop in sales. Ueno Bank, known for its rapid growth and sponsorships, failed to meet legal reserve requirements, leading to its downfall.