Paraguay 2026: economy, stability and international opportunities beyond the headlines of the moment

Paraguay 2026: why is the country at the centre of international attention?

In November 2026, Paraguay is going through a delicate phase, marked by significant developments in the banking sector and in politics.

The news about Ueno Bank and Santiago Peña has drawn the attention of observers, citizens, entrepreneurs and investors, including outside Latin America.

It is understandable that these events raise questions about the country's economic and institutional stability.

However, a sound analysis requires distinguishing short-term events from the structural characteristics of the Paraguayan economy.

Paraguay cannot be told solely through a crisis.

Ueno Bank Paraguay: what happened?

On 3 November 2026, the Banco Central del Paraguay (BCP) announced that, by a decision of 2 November, it had ordered the opening of resolution proceedings for Ueno Bank.

According to the official statement, the decision was taken after a solvency ratio below half of the regulatory minimum was found.

The proceedings were opened with the stated aim of managing the institution's situation, protecting depositors and preserving the stability of the financial system.

The Central Bank specified that, in its own assessment, this is a particular case and not a generalised condition of the Paraguayan banking system.

This institutional position is important, but it does not remove the need to monitor the effects of the case on the confidence of citizens and economic operators.

Protecting savers

Paraguay has a Deposit Guarantee Fund, governed by national legislation.

On 5 November, the Central Bank announced the start of the guarantee payment process for a first group of Ueno Bank depositors, under specific conditions.

The first phase covers deposits of up to 10 million guaraní, provided the further requirements set by the authority are met.

For up-to-date information, savers should rely exclusively on the official channels of the Banco Central del Paraguay.

Protecting savers is essential. Behind every deposit there are families, workers and businesses who need certainty, access to information and protection of their rights.

Santiago Peña and political developments in Paraguay

The banking case has also had consequences on the political level.

On 5 November 2026, Reuters reported the announcement of President Santiago Peña's resignation, in the context of the political crisis that followed the situation at Ueno Bank.

Associated Press subsequently reported that Parliament had rejected the resignation offer. The institutional situation therefore remains in progress and cannot be considered settled.

Institutional developments and the related procedures should be followed through the official communications of the competent authorities.

Schiavone International does not take positions for or against political parties, governments or individual institutional representatives.

We believe, rather, that transparency, respect for institutions, the protection of citizens and accurate information are essential to any economy.

Any individual responsibilities must be established through the procedures provided for by law.

Political events must not become a sweeping judgement on the Paraguayan people or on the country as a whole.

Paraguay's economy: what do the international data say?

To understand Paraguay's economic situation, it helps to start from indicators published by independent institutions.

In its assessment of 28 August 2026, the International Monetary Fund highlighted the resilience of the Paraguayan economy and the importance of macroeconomic fundamentals and structural reforms.

According to the IMF:

• Paraguay's real GDP grew by 6.6% in 2025.
• In the first quarter of 2026, growth was 5.8% year on year.
• The forecast made in August pointed to growth of 4.4% for 2026 as a whole.
• Gross international reserves were estimated at around 11 billion dollars at the end of June 2026.

These data predate the banking and political developments of November. They therefore do not represent a definitive assessment of their effects on the economy.

They do show, however, that Paraguay has an economic structure that cannot be described through a single event.

Why does Paraguay continue to interest international businesses?

Paraguay has several productive sectors that may be worth evaluating for Italian, American and international companies.

Agribusiness and exports

Agriculture, livestock farming, food processing and trade in agro-industrial products are important components of the Paraguayan economy.

Finding suppliers, checking certifications and analysing commercial terms are essential steps in evaluating import-export opportunities.

Energy and industry

Hydroelectric generation is a significant feature of the national energy system.

Industrial opportunities must nonetheless be evaluated in light of infrastructure, the actual availability of energy, logistics and operating costs.

Real estate and urban development

Asunción offers residential and commercial real-estate projects aimed at different types of buyers and investors.

Every transaction requires an independent analysis of risks, costs, documentation and market prospects.

International trade relations

Paraguay can be a market of interest for companies wishing to explore new commercial relationships in South America.

Selecting partners, knowing the regulations and verifying counterparties are fundamental to any internationalisation project.

Opportunities are not the same as guaranteed returns or certain commercial results.

Paraguay is much more than its difficulties

When a nation goes through a complex phase, media attention tends to focus on the most critical aspects.

But a country is also its people.

Paraguay is made of families, entrepreneurs, producers, traders, professionals and young people who work every day and build their own future.

It is a nation with a recognisable culture, traditions, productive capabilities and an identity of its own.

Acknowledging problems does not mean ignoring the value of the people who live in the country.

In the same way, highlighting Paraguay's potential does not mean denying its economic or institutional difficulties.

A balanced narrative must be able to do both.

Paraguay deserves to be known for what it is in its entirety, not only for what happens at a time of crisis.

Italy, the United States and Paraguay: building relationships beyond the news

For an international business, getting to know a country means understanding its opportunities, but also its risks.

It means studying the market, verifying information, meeting local operators and building relationships based on trust.

In times of uncertainty, these activities become even more important.

Companies interested in Paraguay should carefully assess the regulatory context, the financial situation, logistics, contractual terms and the reliability of potential partners.

The presence of economic opportunities does not remove the need for a sound preliminary analysis.

The view of Schiavone International

Schiavone International E.A.S. is a company based in Asunción, Paraguay, engaged in market research, commercial connections and the development of relationships between Paraguayan businesses and international markets.

Our work is based on dialogue with economic operators, knowledge of the territory and the importance of human relationships.

We believe that accurate information is indispensable for building sustainable commercial relationships.

We do not want to present Paraguay as a country without difficulties. We want to help tell its story with balance, highlighting its people, its capabilities and the opportunities that deserve to be examined.

Because a country's future is not defined only by today's news, but also by the work of the people who keep building it every day.

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Exploring business opportunities in Paraguay

Schiavone International E.A.S. supports international companies and entrepreneurs through market research, the identification of potential suppliers and partners, and the development of commercial connections.

For more information:

Schiavone International E.A.S.
Asunción, Paraguay
www.schiavoneinternational.com

Together we can make a difference.

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Sources and references

• Banco Central del Paraguay, statement of 3 November 2026 on the resolution proceedings for Ueno Bank.
• Banco Central del Paraguay, statement of 5 November 2026 on the start of guarantee payments to depositors.
• International Monetary Fund, Article IV consultation on Paraguay, 28 August 2026.
• Reuters, reports of 5–6 November 2026 on the political developments involving Santiago Peña.
• Associated Press, reports on Parliament's rejection of Santiago Peña's resignation offer.