Paraguay’s president quits after millions of people’s savings frozen in bank crisis
· theguardian.com · popularity 38/100 · 0 similar stories today · Banking, Payments & Fintech (Money, Markets & Investing)
Read the original at theguardian.com →
Summary
Santiago Peña’s rightwing administration had authorised Ueno Bank to drastically expand operations before collapse Paraguay’s rightwing president, Santiago Peña, resigned on Thursday after a political and financial crisis collapsed the South American country’s banking system in recent days. At the centre of the crisis is Ueno Bank, which in just a few years under Peña went from an obscure digital bank to one of the country’s largest lenders, claiming to have about 60% of Paraguay’s adult population as customers. Continue reading...
Found in: Guardian World. Rating basis: single outlet; outlet tier 5; 1 feeds; feed position 6.