Paraguay President Peña resigns under mounting pressure from bank collapse
The resignation came after lawmakers opened impeachment proceedings over the bank collapse, which froze millions of accounts and triggered protests nationwide.
- 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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506 Articles
Its announcement comes 48 hours after the outbreak of a banking crisis, which saw the Central Bank of Paraguay put Ueno Bank under supervision, which claims 2.94 million customers and whose deposits have been temporarily frozen.
Paraguay's president, Santiago Peña, resigned after the headquarters of the Ueno Bank's central bank, a digital credit institution with 2.94 million...
Paragvajski predsjednik Santiago Peña objavio je u četvrtak da raises ostavku, neposredno nakon bankarskog scandala koji je prerastao u političku krizu, upravo u trenutku kada su zastupnici raspravljali o njegovu opozivu. “Donio sam odluku da podnesem ostavku na […] Objava Bankarska kriza u Paragvaju: Predsjednik Santiago Peña podnio ostavku pojavila se prvi puta na Novi list.
Ueno Bank commissioner for the serious shortage of capital. The accounts of almost 3 million citizens no longer accessible. The anger of savers. The wave that overwhelms the richest man in the country and the president of the Republic, which a few minutes before being charged by the House resigns with a video message, apologizes to the Paraguayans and stands aside. A stain on the image of the country that attracted foreign investors because it w…
Paraguay's president resigns after Ueno Bank collapse freezes millions of customers' funds
The collapse of Paraguay's Ueno Bank froze customers' savings, pensions and wages, sparking protests, investigations and impeachment proceedings that led President Santiago Peña to resign.
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