Paraguay Senate votes to remove President Santiago Peña from office following Ueno bank collapse
Lawmakers said the bank’s collapse exposed misuse of public funds and left nearly 3 million customers unable to access savings.
- 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.
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234 Articles
Ousted Paraguayan president placed under house arrest
Ousted Paraguayan president Santiago Peña was placed under house arrest Friday on suspicion of breach of trust, shortly after the Senate removed him from office over the collapse of a major bank tied to his government.
A financial and state crisis shakes the country, people fear for their savings. Head of State Santiago Peña is accused of breach of duty in office.
Suddenly it happened very quickly: Due to the banking crisis in Paraguay, the Senate removed the former President Peña from office - shortly afterwards, the prosecutor's office ordered house arrest for him. A successor is already sworn in.
Paraguay president ousted, put under house arrest over bank collapse; successor sworn in
Pedro Alliana sworn in as president until August 2028.Pena placed under house arrest over suspected breach of trust.Impeachment strips Santiago Pena of lifetime Senate seat, immunity.Paraguay's Senate on Friday impeached and removed President...
Pedro Alliana has been sworn in as the new president of Paraguay. He succeeds Santiago Peña, who had been officially removed from office by parliament shortly before. Peña is held responsible for a banking crisis that left about 3 of the 6.5 million Paraguayans unable to access their savings. The 52-year-old Alliana served as vice president under Peña for many years. Earlier this week, Peña had submitted his resignation in an attempt to preempt…
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