Paraguay swears in new president as Peña is put under house arrest
The collapse left nearly half the country temporarily unable to access savings as prosecutors prepared misconduct charges against Santiago Peña.
- On Friday, authorities placed Paraguay President Santiago Pena under house arrest after the collapse of government-linked Ueno Bank locked nearly half the country's population out of their accounts.
- Paraguay's Senate voted to remove Pena for misconduct in office, making him the second president impeached since Gen. Alfredo Stroessner's 35-year dictatorship ended in 1989.
- Lawmakers allege Pena steered public funds into Ueno while regulators overlooked risky insider lending. The collapse trapped $21 million in public works loans and halted a ride-hailing app, leaving 3,000 drivers without work.
- Insurance covers 97% of Ueno customers for deposits up to about $35,000, according to Central Bank regulators. Some depositors began recovering money Thursday, starting with those holding up to $1,500.
- Pena must appear before prosecutors Saturday to face charges of breach of trust and influence peddling, carrying up to 10 years in prison. The crisis has triggered bond market losses and Paraguay's worst political instability in over a decade.
10 Articles
10 Articles
Paraguay swears in new president as Peña is put under house arrest
Pedro Alliana was sworn in as Paraguay's new president just as authorities put his impeached predecessor Santiago Peña under house arrest, the latest developments triggered by the collapse of a digital bank.
Ousted Paraguayan President Santiago Peña Placed Under House Arrest After Bank Collapse
Internewscast Internewscast Paraguay’s ousted president, Santiago Peña, was placed under house arrest Friday on… This Post: Ousted Paraguayan President Santiago Peña Placed Under House Arrest After Bank Collapse first appeared on Internewscast
The country's attorney general has also opened three criminal cases against the former president and other former officials linked to the banking crisis.
South American Leader Removed From Office After Bank Collapse Threatens More Than Half The Population’s Savings
Paraguay’s Senate removed President Santiago Peña from office Friday and prosecutors placed him under house arrest after a digital bank collapsed.
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
