The Ueno Bank crisis and the downfall of Santiago Peña lay bare the links between political and financial power, and the institutional cost of losing public trust.
The banking crisis triggered by the collapse of Ueno Bank highlights the inability of Paraguayan political parties to absorb shocks and maintain the stability of their governments.
The growing concentration of power around Horacio Cartes has reignited the debate over the independence of Paraguay’s institutions and the need to renew the country’s political leadership.
Paraguay, despite its size and remoteness, has become a key piece in the geopolitical dispute between China, Taiwan, and the United States, as it is the only country in South America that still diplomatically recognizes Taipei.
In January was the first summit of the presidents of Paraguay and Brazil to review the treaty. While Paraguay wants to increase the tariff searching for greater profitability, Brazil has stated its intention to lower it to reduce costs for Brazilian consumer.
