🇵🇾 PARAGUAY BANKING CRISIS UPDATE Paraguay’s President Santiago Peña has RESIGNED following the central bank’s seizure of Ueno Bank. The bank had close financial ties to the President, who previously held shares in its parent company. Ueno Bank grew rapidly into a major financial institution serving nearly 3 million customers. It was also managing approximately $850 million in public funds, including pension money. Regulators subsequently discovered a severe capital shortfall, triggering its collapse. Now the President has resigned amid protests and impeachment pressure. Private banks benefit from access to public deposits. Political relationships can influence where public capital is allocated. When banking risks materialise, depositors, pension funds and potentially taxpayers face the consequences. Politicians can lose their jobs. But the financial assets, deposits and customer relationships don’t disappear. Watch who acquires them. That’s where the next chapter of this FIC story begins. Follow the money.