Paraguay Senate votes to remove President Santiago Peña from office following Ueno bank collapse
Lawmakers cited his stake in Ueno and $355 million in pension deposits, while prosecutors opened criminal investigations into several officials.
- On Friday, Paraguay's Senate unanimously voted to remove President Santiago Peña for misconduct over Ueno Bank's collapse. Vice President Pedro Alliana was immediately sworn in to lead the country.
- Regulators seized Ueno Bank on Tuesday, freezing nearly 3 million customer accounts and triggering nationwide protests. Lawmakers accused Peña of steering $355 million in state pension funds to the lender while regulators overlooked risky insider lending.
- Prosecutors charged 27 people, including Ueno's controlling shareholder Miguel Vázquez, with breach of trust and placed Peña under house arrest on Friday. Former central bank chief Carlos Carvallo also faced arrest orders.
- President Alliana inherited a government under pressure to return depositors' money and punish those responsible. Paraguay's largest teachers' union, representing more than 40,000 members, plans an indefinite national strike on Monday to demand pension fund protection.
- Peña lost his political base after mentor Horacio Cartes publicly called for his ouster, marking a stunning reversal of fortunes. Unlike other former presidents, Peña will not receive a lifetime Senate seat or parliamentary immunity, leaving him vulnerable to prosecution.
544 Articles
544 Articles
Noticias de Navarra
Paraguay’s political and financial crisis has taken a new turn with the dismissal and subsequent arrest of former President Santiago Peña. The country’s Attorney General’s Office has ordered his house arrest for an alleged crime of “injury of confidence” in the context of the investigation opened by the Ueno Bank case.
The collapse of the Bank of Ueno with Paraguay's President Santiago Peña brought down the freezing of millions of customers' accounts and escalated charges of conflict of interest and manipulation of oversight. As his deputy assumed the presidency, he began to pursue his predecessor and investigate his links with the Bank.
Paraguay’s ousted president Pena detained over Ueno bank collapse, Alliana takes office
Credit: XSantiago Pena was due to answer questions from anti-corruption prosecutors in Asuncion on November 7, a day after senators impeached him and police placed him under house arrest over the collapse of Ueno Bank, a lender with ties to his government
Paraguay VP Alliana sworn is as president after predecessor impeached
Former Paraguayan Vice President Pedro Alliana was sworn in as president Friday to serve out the term of his predecessor, Santiago Peña, who was impeached earlier the same day for misconduct in office.
Coverage Details
Bias Distribution
- 36% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
