Paraguay bank crisis: How much money is at stake?

Résumé détaillé

Paraguay bank crisis: How much money is at stake?

Paraguay's Central Bank has partially returned savings to more than 1.7 million depositors who lost access to their money after the implosion of Ueno Bank last week.

The digital bank's collapse locked hundreds of thousands of Paraguayans out of their accounts and led to the lightning-fast removal of president Santiago Pena from office over his links to the catastrophe.

Money is trickling back to some account holders, but most of what the institution's coffers contained remains out of reach, including over $800 million in public funds.

Of the approximately $2.8 billion in deposits, only around $335 million had been returned as of Monday, according to official figures.

How much money is at stake, where did it go and what are Paraguayan authorities doing to get it back?

In under three years, Ueno had accumulated deposits of around $2.8 billion, according to figures disclosed Tuesday by the Central Bank's deposit guarantee fund director Jose Maciel.

The remaining share belonged to the public sector, mainly the Social Security Institute , according to data published by Ueno in June.

Following the November 3 seizure of Ueno amid major solvency issues, the fate of the public funds hangs in the balance.

The guarantee fund protects up to approximately $37,000 per depositor and banking institution at the current exchange rate.

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