More than 1 million Banco Ueno account holders were reimbursed; crisis impacts trade in Paraguay

According to the Central Bank of Paraguay, as of this Friday (6) 1.2 million Ueno customers had their amounts reimbursed.

These customers are part of the first phase of payments: those who had deposits of up to 10 million guaranis, around R$8,800.

Today, the Central Bank began the second stage. Customers who had between 10 million and 121 million guaranis are being reimbursed, that is, from R$8,800 to around R$107,000.

In both stages, payment follows certain criteria: the person cannot have debts with the institution and must have an account in another Paraguayan bank.

The interim president of the Central Bank of Paraguay, Pedro Acosta, said that 60% of Ueno's customers have already been reimbursed and that the balance of around 670,000 accounts remains to be covered.

Even though customers have already received compensation, the collapse of Ueno continues to affect the lives of Paraguayans, even those who did not have a bank account.

The money that does not reach the consumer's pocket stops circulating in Paraguayan commerce. The customer doesn't buy, the merchant sells less.

In Cidade do Leste, close to Foz do Iguaçu, outside the tourist area, traders are already feeling the effects of the financial crisis.

Luiz has already noticed that the movement has decreased in the last few days. Not only from Paraguayans, but also from Brazilians who live or study on the border.

A large part of the payments he received at the key and stamp store went to Banco Ueno. "Business has stopped, about 70%, because we have no movement due to the fact that the money is all stopped and we don't know where to get it from", says the trader.

Business at the clothing store where Tania works has already dropped by half. She also doesn't know yet how she's going to pay the bills.

Her salary fell just before the bank closed and now she is waiting for when she will be able to get paid.

"Unfortunately, I don't have much to do, I have to wait", says the saleswoman.