Paraguay President Peña resigns under mounting pressure from bank collapse
The lender held $800 million in public deposits and left millions of customer accounts frozen, fueling impeachment moves and protests over alleged conflicts of interest.
- On Thursday, Paraguay President Santiago Peña announced his resignation in a video, citing a need to preserve the country's stability and democratic institutions. Peña offered an apology but stopped short of accepting responsibility for the banking crisis.
- Government funds poured into Ueno under Peña, who defended the lender's oversight as recently as last month despite repeated warnings. As of last month, Ueno reported holding roughly $800 million in public deposits, including state pension and hydroelectric dam operator funds.
- Regulators seized Ueno on Tuesday after finding poorly documented loans and expenses wrongly counted as assets. Protesters flooded Asunción demanding Peña's impeachment, with signs calling him the "enemy of savers."
- Authorities detained eight senior Ueno executives, including founder Miguel Vázquez and President Juan Manuel Gustale, while prosecutors charged 27 bank officials with breach of trust. Interim central bank president Pedro Acosta Bernal insisted, "The banking system is sound."
- Only Venezuela ranks worse in South America on the latest corruption index from Transparency International, underscoring systemic institutional weakness. The collapse triggered a party-wide revolt within the Colorado Party, forcing Peña's swift departure.
37 Articles
37 Articles
The President of Paraguay, Santiago Peña, announced this morning his resignation from office.The request for resignation was sent to the Congress of the country, which needs to approve.What President Renunciation of Peña said was published in video on social networks.
This Thursday, the Paraguayan Congress began to debate the process of political trial, amid the loss of political support for the president and the calls of figures of his own party to leave office.
The Paraguayan President, Santiago Pe a, resigned in the midst of a political and financial storm in the country due to the collapse of a bank.
The president has announced his decision shortly before being submitted to a political trial in Congress
The president of Paraguay, Santiago Peña, resigned this Thursday, shortly before being submitted to a political trial in Congress, in the midst of the storm unleashed in the country by the intervention of Ueno bank, a private entity to which he has been linked and which during his management received millionaires resources from public entities.
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