Paraguay Ministry creates pathways for workers impacted By Ueno Bank closure

The Ministry of Labour, Employment and Social Security (MTESS) in Paraguay is assisting approximately 7,000 workers affected by the closure of Ueno Bank and companies linked to Grupo Vázquez.

Many of these employees remain on official payrolls without receiving salaries or assignments. Labour Minister Mónica Recalde stated that 490 of these workers were employed directly by Ueno Bank. The Ministry issued a legal opinion on 9 November declaring that exclusivity clauses in the affected contracts are now inapplicable.

This change allows workers to seek new jobs without losing their existing labour rights or being considered to have resigned. The Ministry is also working with the Central Bank of Paraguay (BCP) to calculate unpaid wages, noting that the Labour Code gives workers priority over other creditors. Additionally, the Ministry requested the Social Security Institute (IPS) to maintain healthcare for affected staff, especially pregnant employees and breastfeeding mothers.

To help professionals find new work, a non-profit initiative called EntreMedios will launch a free professional directory on 13 November 2026. The platform connects Paraguayan communications professionals with potential employers for permanent or freelance roles. While not created specifically for the Ueno Bank crisis, the directory offers a way for workers in marketing and communications to build profiles and increase their visibility to media organisations and businesses.