Ueno Bank collapse sparks political crisis and impeachment move in Paraguay

A sudden blank white screen surprised the almost three million Ueno Bank customers in the early hours of Tuesday 3 November. At around 03:24, the app of the Paraguayan institution, a key player in the system that manages multimillion-dollar state funds and has grown at a breakneck pace in its three years of existence, stopped displaying users' accounts and showed a single message instead: "We cannot display the balance". At the same time, the Central Bank of Paraguay issued a hard-hitting statement on its social media accounts: the institution was placed under intervention and its liquidation process was opened.