Paraguay, Schreiner appointed to head the Central Bank

The new president of Paraguay, Pedro Alliana, has appointed economist Jorge Schreiner as head of the Central Bank, following the financial and political crisis caused by the failure of the digital bank Ueno. The appointment was approved by Parliament, which also designated Fernando Rivarola, former head of the national banking supervisory authority, as a member of the institute's board of directors.

Schreiner previously served on the board of the Central Bank for two years, until 1999, and headed the National Securities Commission for a decade, until 2013. Rivarola had raised the alarm about the situation in Ueno in a report last July, released by the local press at the beginning of October and at the origin of a crisis that culminated in the removal of former president Santiago Peña and the previous governor of the Central Bank, Carlos Carvallo.

Both were indicted by the prosecutor's office for alleged links with the credit institution and placed in precautionary custody.

Alliana said Schreiner's appointment aims to strengthen the institutional framework of the Central Bank and restore citizens' trust.