Ueno

Benigno López says bank secrecy protects customers but should not prevent the Senate from learning about ueno bank’s capital, liquidity and risks. Citing Law 7066/2023, the Constitution, the public-information access law and financial disclosure requirements, he supports withholding customers’ identifying details. He says an accounting exception after Visión Banco was absorbed two years ago was intended to avert a public loss of about US$300 million, while depositors—less-informed creditors despite coverage from the Deposit Guarantee Fund—need to know the bank’s assets and exposure.

Paraguay's Presidency denied a theft at the official residence, Mburuvicha Róga, while unofficial sources confirmed an internal investigation into lock tampering. Senator Filizzola demanded clarity on the origin of the cash and criticized the diplomatic meeting between Santiago Peña and Delcy Rodríguez.

Paraguay’s Court of Appeals overturned the statute-of-limitations ruling and reactivated the embezzlement case against Senator Rafael Filizzola in the “Comisarías de Oro” case, ordering the file returned to the intermediate stage after finding procedural inactivity that was not attributable exclusively to the Public Prosecutor’s Office.

Roberto González (ANR) threatened to seek the impeachment of BCP President Carlos Carvallo Spalding, also spelled Carlos Cavallo Spalding, unless questions about Ueno, the custody of public funds and possible conflicts of interest are clarified. He also challenged the “neopeñistas” to defend the government of Santiago Peña’s actions.

An IPS audit identified a G. 625.159 billion discrepancy between electronic records and the physical movement of medicines and supplies from 2020 to 2024, attributing it to failures in system integration and incomplete documentation. It did not prove a shortfall, while the institution investigates possible responsibility.

The Senate gave the Central Bank of Paraguay 15 days to explain the concentration of public funds at Ueno Bank, accounting discrepancies, transactions with related companies and the handling of an internal memorandum, while the Paraguayan Banking Association calls for transparency and uniform application of the rules.

Santiago Peña met in New York with businesspeople Santiago Jariton, María Bertha Peroni and Daniel Hiller, described as driving one of the most important entertainment and urban-development projects in Paraguay’s history, to present a complex on Asunción’s Costanera Norte with an arena, event center, hotel and shopping mall aimed at Paraguay and the region, with construction expected to begin in early 2027 and backing from the government and the Municipality of Asunción.

Senator Rafael Filizzola accused Santiago Peña of using Ueno to make poor deals with state funds and IPS contributors’ money, with possible effects on health care and retirement, as well as supplying energy at low prices and ignoring warnings about the bank.

Paraguay’s Chamber of Deputies left the IPS emergency bill off its agenda despite a priority motion, as a crisis within Honor Colorado — led by Horacio Cartes, who confirmed the Pedro Alliana–Juan Carlos Baruja ticket — surrounds a proposal that could increase the exposure of the institution’s funds to Ueno Bank.

The Central Bank of Paraguay (BCP) said it will respond within 15 business days to Senate requests about procedures and decisions by the authority and the Superintendency of Banks (SIB) involving mergers, acquisitions, banking operations and public deposits, while Santiago Peña met with sector representatives, including Juan José Galeano and leaders of the Association of Banks of Paraguay (Asoban), who advocated transparency and the technical autonomy of regulators and highlighted the system’s strength after investment-grade status was obtained.

The National Development Bank (BNF) reduced the guarantees required, eased disbursements and waived G. 62 million in administrative expenses when it amended, in October 2023, the G. 62 billion credit granted to itti, despite reservations about the appraisal and condition of the properties offered as collateral.

IPS holds up to 82.49% of its dollar-denominated CDA in the five largest banks, while the Senate is demanding information from BCP on the management of these public resources, banking operations and loans to policyholders.

Vice President Pedro Alliana backed cutting unnecessary spending in Paraguay’s 2027 budget to meet doctors’ and teachers’ demands, maintained his support for Santiago Peña’s government and said there was unity within the National Republican Association (ANR), also known as the Colorado Party.

Paraguay’s Senate approved requests for information from the Central Bank of Paraguay about Ueno Bank’s operations and expansion, amid questions about public deposits, possible conflicts of interest, and political rivalries involving the institution and Banco Basa.

A teachers’ strike scheduled for September 17 and 18 in Paraguay challenges the 2027 budget bill, which excludes agreed raises and demands, while senators Blanca Ovelar and Celeste Amarilla disagree over the causes of the education crisis, the results of the 2025 PISA assessment given to 6,507 students, the Ñe’ẽry program, which received US$12 million in 2023, and criticism of teacher training and meritocracy; Amarilla also fears a return of banking crises and mentions Banco Atlas and Ueno, a Paraguayan digital bank.

Santiago Peña said there is no break with Horacio Cartes, attributed criticism to the municipal elections, defended clarifications over a request for information from the Central Bank involving Ueno Bank, and called for continued dialogue with doctors threatening a strike on September 21 and 22.

Paraguay’s Senate sent the Central Bank 31 questions about Ueno Bank’s operations and the oversight it received, including transactions with companies linked to Grupo Vázquez, the sale of a US$35 million loan portfolio and possible corrective measures, with 15 days to respond.

According to the organizers, the 3rd Taiwan–Paraguay Technology Forum, scheduled for September 11 and 12 at the Central Bank of Paraguay in Asunción, will bring together experts to discuss applications of artificial intelligence in areas including industry, agriculture, health, energy, logistics, finance, cybersecurity and digital government, with free admission upon prior registration.

Paraguay’s Congress has begun reviewing the 2027 General National Budget, estimated at G. 166.3 trillion and listing health care among its priorities, while the Senate prepares requests for information from the Central Bank about Ueno Bank and lawmakers negotiate doctors’ salary demands.

Paraguay’s Chamber of Deputies will again review a bill that could allow different financial products from the same institution to be counted separately, while IPS investments in Ueno Bank exceeded the legal limit described in the sources.

Ueno Bank’s solvency ratio could fall from 12.4% to about 6.12% at the end of 2025 if G. 876.7 billion invested in UPay and Wepa were deducted, below the legal minimum of 8% for Tier 1 capital.

Paraguay’s Senate is investigating whether IPS requires beneficiaries, retirees and pensioners to open accounts at Ueno Bank to receive loans, following a complaint of a possible monopoly and the concentration of ₲5.1 trillion in state funds at the institution.

Ueno Bank expanded its public deposits in Paraguay to US$862 million in July, capturing US$52 million in one month and sparking debate about limits for state funds in financial institutions, while denying irregularities and rebutting criticism about its investments and intangible assets.

Ueno Bank reported intangible assets related to software systems for 2025 whose book value is around three times higher than the corresponding assets of nine other major banks in Paraguay combined. The unusual scale of the figure has raised questions within the financial sector. According to opposition lawmaker Mauricio Espínola, the Paraguayan banking association Asoban may also have approached the Central Bank over the matter.