Paraguay opposition seeks president’s removal over banking crisis
Protests were sparked by the takeover of a major lender linked to President Santiago Pena, which left millions of depositors without access to their money.
Paraguayan opposition lawmakers have submitted a motion seeking President Santiago Pena's removal due to allegations of misconduct and conflict of interest surrounding the Central Bank's seizure of Ueno Bank, a major lender tied to the president. Protests erupted across the country after the takeover, leaving millions of depositors, including pensioners, without access to their funds.
Pena, who owned shares in a group that controlled Ueno Bank, sold them last year. To remove him, at least 53 out of 80 lawmakers must vote in favor of the motion, which must then gain approval from the Senate with 30 out of 45 votes. The opposition seeks his dismissal as part of efforts to restore confidence in the financial system following the crisis.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Paraguay opposition seeks president’s removal over banking crisis freemalaysiatoday.com
