Paraguay President Peña resigns under mounting pressure from bank collapse
The resignation follows a central bank seizure that froze nearly 3 million accounts and triggered impeachment proceedings.
- On Thursday, Paraguayan President Santiago Peña resigned in a video address, stating he acted "with the stability of our country, social peace and the need to preserve our democratic institutions in mind."
- The crisis erupted after Paraguay's central bank seized Ueno on Tuesday, discovering solvency ratios below 50% and risky insider lending tied to the bank's owners, while lawmakers accused Peña of conflicts of interest.
- Ueno held nearly $800 million in public funds, including state pension and health money, affecting about three million customers locked out of accounts; authorities detained eight bank executives including founder Miguel Vázquez.
- Minutes after his announcement, Congress voted unanimously 78-0 to impeach Peña, sending charges to the Senate; Vice President Pedro Alliana is expected to serve until August 2028.
- Thousands of citizens protested for three days demanding their money and calling Peña "the enemy of savers," as the collapse of Ueno shatters Paraguay's reputation for financial stability.
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723 Articles
Half the population with blocked accounts and cards
Paraguay’s President Tries To Quit After Bank Collapses, Leaving 3 Million Customers Without Savings
President Santiago Peña offered to resign after Paraguay’s ueno bank collapsed, affecting around 3 million customers. The post Paraguay’s President Tries To Quit After Bank Collapses, Leaving 3 Million Customers Without Savings appeared first on 2oceansvibe News | South African and international news.
The President of Paraguay resigned after half of the population ran out of money due to the collapse of a bank. Santiago Peña had business connections with the conglomerate that owns the bank. Parliament approved the indictment of the resigning president. Article Massive protest in Paraguay! President Santiago Peña announced his resignation first appears in Romania TV.
Ueno Bank's financial difficulties are causing a serious crisis in Paraguay. The scandal is causing distress not only to the financial system, but also to the country's government.
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