Paraguay Appoints New Central Bank Chief Amid Political Crisis
Jorge Schreiner takes charge of the monetary authority following the Ueno Bank collapse and Santiago Peña's impeachment.
Paraguayan President Pedro Alliana has selected economist Jorge Schreiner to lead the Central Bank. The change follows the departure of Carlos Carvallo, who left his post during the impeachment process of former President Santiago Peña.
Schreiner has a long history in the Paraguayan financial sector. He served on the Central Bank board in the late 1990s and led the Securities Commission for ten years. His appointment is subject to approval by the local Congress.
The instability was triggered by the closure of the digital bank Ueno. The collapse of the institution blocked millions of customers from accessing their funds and sparked social protests across the country.
The Paraguayan Public Prosecutor's Office is investigating alleged ties between Santiago Peña, Carlos Carvallo, and the failed bank. Both are currently in preventive detention as the government attempts to contain the institutional crisis.
The Paraguayan government is seeking international support to stabilize the situation. Pedro Alliana has been in contact with United States diplomatic representative Marco Rubio to reaffirm cooperation between the two nations.
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