Paraguay President Peña resigns under mounting pressure from bank collapse
- 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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Idaho Press
Post RegisterParaguay President Peña under investigation, faces removal from office over bank collapse
Paraguayan President Santiago Peña is under criminal investigation following the collapse of a major digital bank, as the South American leader prepares to defend himself before the Senate against possible removal from office on Friday. The crisis at Ueno Bank…
Paraguay’s Peña Resigns as Ueno Bank Crisis Triggers Impeachment Vote
Caracas (OrinocoTribune.com)—Santiago Peña announced his resignation as president of Paraguay on Thursday, November 5, as lawmakers advanced impeachment proceedings over the collapse of Ueno Bank, which left nearly three million customers unable to access their accounts and put hundreds of millions of dollars in public funds at risk. “I have made the decision to submit […]
Before his fulminating political collapse, Santiago Peña was a kind of model politician, a spoiled figure of the Latin American right. Because Peña had achieved a...
Paraguayan President Santiago Peña announced that he will participate in his impeachment trial.
The President of Paraguay, Santiago Peña, announced his resignation on Thursday, in the aftermath of a scandal in the country's banking sector....
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