Paraguay President Peña under investigation, faces removal from office over bank collapse
Prosecutors opened criminal probes as lawmakers moved to impeach Peña, while deposit guarantees will repay most stranded customers within five business days, officials said.
- Paraguayan President Santiago Peña faces a criminal investigation following the collapse of digital lender Ueno Bank, with lawmakers in the Chamber of Deputies submitting impeachment articles citing alleged conflicts of interest and institutional cover-ups.
- Regulators seized Ueno on Tuesday after finding the bank's solvency ratio fell below the legal minimum due to poorly documented insider lending, fueling allegations of preferential treatment under Peña.
- Authorities detained eight senior executives, including founder Miguel Vazquez, while the Social Security Institute held $355 million at the bank; a state guarantee fund aims to repay 97% of clients.
- Peña offered to resign on Thursday, but both houses of Congress rejected the offer, choosing to proceed with an impeachment trial; if removed, Vice President Pedro Alliana would replace him as Paraguay's leader.
- Demonstrators in Asuncion marched against the Colorado Party, viewing the crisis as a case study in systemic corruption, while Attorney General Emiliano Rolón Fernández leads investigations that could reshape Paraguay's political landscape.
47 Articles
47 Articles
RIO DE JANEIRO. Nearly half of Paraguay's population has had their bank accounts frozen in what is being described as the country's worst bank crash. President Santiago Peña is accused of interfering in the coup and risks being impeached in a court trial starting today.
El Periódico
Paraguay is in institutional limbo. President Santiago Peña resigned yesterday not to be spattered by the financial scandal of Ueno bank that has left millions of savers without their money available. However, Congress rejected the resignation because it wants to dismiss him. Peña asked 72 hours to exercise his defense and today had no guarantees to avoid a political trial that would expose him to judicial investigations without the office of se…
Corrugated by the collapse of Ueno Bank, the president must appear in Congress, meeting in extraordinary session to define his dismissal
RECIT - The country's first digital bank, Ueno, where half of Paraguayans had an account, was placed under guardianship on Tuesday. The head of state, questioned for his ties with the institution, submitted his resignation on Thursday.
The turbulence that caused the collapse of the Ueno Bank in Paraguay escalated to such an extent that the Congress of that country prevented President Peña from resigning. Thus, this Friday the political trial against him will begin. In the streaming program of La Tercera, Desde la Redacción, the analyst of the Observatory of International Affairs of the University Finis Terrae, Vanessa Cárdenas, analyzed the implications of the crisis.
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