Published • loading... • Updated
Paraguay President Peña resigns under mounting pressure from bank collapse
Officials confirmed that 3 million depositors lost access to their funds following the Ueno Bank seizure, a crisis that ultimately forced the president to resign.
- 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.
Insights by Ground AI
Podcasts & Opinions
645 Articles
645 Articles
President Santiago Peña has been charged with misconduct in office, citing problems with a local digital bank.
·Helsinki, Finland
Read Full Article
After the supervision of Ueno Bank, which has nearly 3 million customers and held shares until last year, conservative leader Santiago Peña presented his resignation, which Parliament could not endorse due to lack of quorum.The Senate opens on Friday his trial in dispossession Paraguay's president, Santiago Peña, was preparing for his trial in dispossession on Friday, following a banking scandal affecting millions of savers, and which mobilized …
·Geneva, Switzerland
Read Full Article
The institution associated with the Head of State has received considerable funds from State structures, notes CNN.
·Kyiv, Ukraine
Read Full ArticleCoverage Details
Total News Sources645
Leaning Left85Leaning Right63Center84Last UpdatedBias Distribution37% Left
Bias Distribution
- 37% of the sources lean Left
37% Left
L 37%
C 36%
R 27%
Factuality
To view factuality data please Upgrade to Premium
