Paraguay Protests Over Bank Lockout Intensify as Impeachment Vote Nears

In brief

• Protesters in Asunción forced former presidential candidate Payo Cubas out of a march outside Ueno Bank headquarters on Thursday night.
• Congress never accepted President Santiago Peña’s resignation; the lower house voted 78-0 to impeach him and the Senate refused him 72 extra hours to prepare a defense.
• Two senior officials have resigned, eight Ueno executives are under arrest, and prosecutors have opened a criminal probe into Peña.

Thousands of Paraguayans marched through Asunción this week demanding their money back after Ueno Bank, a digital lender, locked about 3 million customers out of their accounts, according.

That is about 60% of Paraguay’s adults. The bank also held $800 million to $850 million in public money, including state pension and health funds, according to the AP, so the fallout reaches the pension system.

Anger boiled over Thursday night outside Ueno’s headquarters in Asunción, where savers burned debit and credit cards. Paraguayo “Payo” Cubas, a former presidential candidate, tried to join and was booed, shoved, and forced out.

Protesters shouted “divisor” and “oportunista,” meaning divider and opportunist, accusing him of trying to profit politically from public rage, according to the same report.