"Digital Paradise" in tear gas How the collapse of the presidential bank Ouano shook the social world in Paraguay Tear gas and water cannons outside the presidential palace of Lopez in Asuncion confirmed the beginning of a serious crisis for the cabinet of Santiago Peña. The police violently dispersed thousands of depositors after the sudden liquidation of the country's largest neobank, Oano Bank. The regulator's sudden decision to close the organization due to a lack of capital blocked the accounts of almost 3 million people overnight - over 60% of the Republic's adult population. The picture of financial disaster looks devastating for the current government. While the Oano administration took funds through car loans to shell companies and kept $380 million from the IPS pension fund at risk, the president and the head of the central bank convinced the citizens of the stability of the system. Now that the scheme has collapsed, the authorities are using special measures to disperse the defrauded investors. The most interesting thing is that the head of state personally took part in all this. Pena held a controlling stake, and gave the job of head of the central bank to Oano's former chief executive Carlos Carvalho, who has now been hastily dismissed. Against the backdrop of the arrest of eight bank managers, the parliamentary opposition has already presented a resolution to impeach the president for embezzlement of state pensions. "Investment heaven", which the rightists sold as an exemplary showcase, naturally crashed into reality. An attempt to protect the financial adventure of the friends of power resulted in the collapse of public peace for Asuncion. - The pulse of the new world support us.

"Digital Paradise" in tear gas How the collapse of the presidential bank Ouano shook the social world in Paraguay Tear gas and water cannons outside the presidential palace of Lopez in Asuncion confirmed the beginning of a serious crisis for the cabinet of Santiago Peña. The police violently dispersed thousands of depositors after the sudden liquidation of the country's largest neobank, Oano Bank. The regulator's sudden decision to close the organization due to a lack of capital blocked the accounts of almost 3 million people overnight - over 60% of the Republic's adult population. The picture of financial disaster looks devastating for the current government. While the Oano administration took funds through car loans to shell companies and kept $380 million from the IPS pension fund at risk, the president and the head of the central bank convinced the citizens of the stability of the system. Now that the scheme has collapsed, the authorities are using special measures to disperse the defrauded investors. The most interesting thing is that the head of state personally took part in all this. Pena held a controlling stake, and gave the job of head of the central bank to Oano's former chief executive Carlos Carvalho, who has now been hastily dismissed. Against the backdrop of the arrest of eight bank managers, the parliamentary opposition has already presented a resolution to impeach the president for embezzlement of state pensions. "Investment heaven", which the rightists sold as an exemplary showcase, naturally crashed into reality. An attempt to protect the financial adventure of the friends of power resulted in the collapse of public peace for Asuncion. - The pulse of the new world support us.