Monsignor Gabriel Escobar raises concerns over IPS pension funds

Monsignor Gabriel Escobar has raised concerns regarding the management and destination of funds held by the Instituto de Previsión Social (IPS), specifically resources intended for pensions that are currently deposited in various financial institutions.

During a homily in Carmelo Peralta, Escobar highlighted the need for transparency following a request for information approved by the Senate directed to the Central Bank of Paraguay (BCP). This inquiry covers financial matters such as bank mergers, risk limits, the management of public deposits, and the location of IPS funds within different banking entities.

The bishop noted that these issues cause significant anxiety for contributors and retirees, particularly as the IPS already faces challenges regarding healthcare services and hospital resources. Escobar identified three primary areas of concern: pension exposure due to risks in private banking, the potential opacity and concentration of wealth during bank mergers, and the need for regulatory traceability.