PARAGUAY · BANKING
Published Thursday, 5 November, 10:30 p.m. ET · Source: Central Bank of Paraguay communiqué, Presidency of Paraguay decree 7199
Key Facts
- What happened Paraguay's central bank announced repayments for savers of Ueno, a failed digital bank, starting at 10 million guaraníes (about US$1,700).
- Who qualifies Savers who owe Ueno nothing and hold an account at another bank; those under 10 million guaraníes get everything back.
- Also tonight Interior Minister Enrique Riera quit, a day before the Senate resumes President Peña's impeachment trial.
- What next Everyone else waits: the central bank gave no dates for the next groups.
For two days, nearly three million Paraguayans could not touch their money. On Thursday night, the central bank announced that repayment had begun.
The Central Bank of Paraguay (BCP), the country's financial regulator, announced on Thursday 5 November that it had started paying deposit-guarantee money to savers of Ueno Bank. Ueno is a digital lender the regulator took over and moved to close on Tuesday, after finding it insolvent, meaning it could not cover its debts.
The first payments cover balances of up to 10 million guaraníes, about US$1,700 at the 5 November closing rate of 5,875 guaraníes per dollar (RT market data). The same night, Interior Minister Enrique Riera resigned, a day before the Senate resumes the impeachment trial of President Santiago Peña.
Who Gets Paid First
The central bank set three conditions for this first group. A saver must hold no more than 10 million guaraníes, owe Ueno no debt, and have an account at another Paraguayan bank or financial firm to receive the money.
Savers whose total deposits stay under that line get every guaraní back. Everyone else must wait, and the BCP gave no payment date.
It said it will announce later groups as the process advances and within the time limits set by law. It also told savers to rely only on its official channels.
How Big Is the Safety Net?
Paraguay's deposit guarantee fund, an insurance pool for bank savers, covers up to 75 monthly minimum wages. That is 228.3 million guaraníes (about US$38,900) per saver at each institution.
So the first round is small. Ten million guaraníes is less than 5% of the cap, which means large depositors are still waiting.
The rollout was rocky. Savers reported that the central bank's lookup links failed under heavy demand.
Why Did the Interior Minister Quit?
Riera, who ran the ministry in charge of police and domestic security, resigned on Thursday night. Decree 7199 accepted his resignation and named Carlos Humberto Benítez González, until now vice minister for internal security, as acting minister.
Earlier that day Riera had delivered Peña's own resignation letter to Congress, but Congress took no decision because the joint session lost its quorum, the minimum number of members needed to vote. As we reported, Peña remains president while the Senate weighs his removal.
Riera belongs to the Colorado Party, which rules Paraguay, and now recovers his seat in the Senate. The Senate resumes the trial at 10 a.m. in Asunción on Friday 6 November (8 a.m. ET), and Peña is due to present his defence.
The charge links back to the bank failure, which we covered when the central bank chief quit and when the impeachment push began.
What It Means for US Readers
The clear winners tonight are small savers, who are first in line and recover everything. The losers for now are larger depositors with no date and no amount promised.
For US investors, the next test is Friday's Senate session, and the next signal on the bank is the central bank's announcement of the second payment group.
What Is Not Known
We do not know how many savers qualify for the first group or how much money has reached accounts. The central bank has not said when the next groups will be paid, or whether the guarantee fund holds enough for all claims.
More: Paraguay news in English, every day from The Rio Times.
Frequently Asked Questions
Who gets Ueno Bank money back first?
Savers with total deposits up to 10 million guaraníes (about US$1,700) who owe Ueno nothing and have an account at another bank. They receive their full balance.
When will other Ueno Bank savers be paid?
The central bank has not said. It will announce later payment groups as the process advances, within the legal time limits.
Sources: Central Bank of Paraguay, deposit guarantee payment announcement, 5 November 2026; Presidency of Paraguay, decree 7199, 5 November 2026; Senate of Paraguay; RT exchange rate, 6 November 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief