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Paraguay’s President Peña Faces Impeachment Over Ueno Bank Collapse

By Luís De Magalhães

Paraguay’s Chamber of Deputies opened an extraordinary session on Thursday to decide whether to impeach President Santiago Peña, two days after the central bank took over Ueno Bank, one of the country’s largest lenders. The political pressure escalated hours before the session. The ruling Colorado Party backed an…

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Central bank

The public institution that manages a country's currency, money supply and benchmark interest rate, such as the Federal Reserve or the Reserve Bank of India.

Its decisions on rates and money supply move loan costs, currencies and markets for everyone in the economy.

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