Paraguay restores funds to over One million Ueno bank depositors

The Central Bank of Paraguay paid back funds to 1,196,000 depositors of the intervened Ueno bank over a two-day period.

Interim president Pedro Acosta reported these payments were funded by the state guarantee fund. The process targeted accounts based on specific limits established by a recent law passed in Congress. On the first day of the refund process, authorities issued payments to depositors with balances up to 10 million guaraníes.

During the second day, the bank issued refunds to those with amounts up to 40 minimum wages, which equals 121,760,000 guaraníes. These two days of activity resulted in 996 billion guaraníes, or roughly US$160 million, being deposited into affected accounts. Officials continue to work on more complex lists of depositors throughout the weekend. To help people who prefer physical cash over electronic transfers, several banks agreed to keep their branches open for withdrawals.

The Ministry of Economy stated that the government is prioritizing the restoration of public confidence through these timely restitutions. Regarding retirees, the president of the Social Security Institute, Derlis León, confirmed that 32,000 pensioners have finished migrating their accounts to eight local banks. This move ensures that 90,000 retirees will still receive their salaries and Christmas bonuses on 17 November.