Coverage dated November 7, 2026 to November 9, 2026
Paraguay’s bank collapse brought down a president – and exposed as myth the nation’s status as a ‘Dubai of South America’
Headline from The Conversation US
The collapse raises troubling questions about who benefits from financial modernization, who controls it and who bears the risks when it fails.
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Santiago Peña’s links to Ueno Bank scrutinized after crisis led to his house arrest and froze millions of bank accounts Pedro Volpe had just woken up last Tuesday when he saw a message from a friend asking whether his bank account was down, too.
The collapses of Banco Master in Brazil and Banco Fassil in Bolivia, alongside Paraguay's Ueno crisis, reveal recurring concerns about political influence, weak oversight and losses borne by depositors.
