Paraguay President Santiago Peña impeached after Ueno Bank collapse freezes millions in savings, sparks protests
The 78-0 vote marked a stunning repudiation of Peña by lawmakers from his long-ruling Colorado Party, who joined the opposition in backing his impeachment after three days of demonstrations rocked the capital, Asunción.
Paraguay's President Santiago Peña resigned on November 5 amid a banking collapse that threatened the country's financial stability. The Central Bank intervened in Ueno Bank, one of Paraguay's leading digital banks, after detecting serious irregularities and financial problems. Millions of customers temporarily lost access to their accounts as the government faced impeachment proceedings.
Peña, who took office in August 2023, cited the need to protect depositors and stabilize the country's institutions. He apologized to citizens for not meeting their expectations during his tenure. The collapse, linked to Peña's business ties to the bank, raised concerns about financial oversight and political influence.
Written by urgent.news from Colombia One's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Paraguay’s President Santiago Peña Resigns Following Banking Collapse colombiaone.com
- Paraguay’s President Pena resigns under mounting pressure from bank collapse scmp.com
- Paraguay President Santiago Peña resigns after bank collapse sparks protests peopledaily.digital
- Paraguay's president resigns amid banking scandal lemonde.fr
- Paraguay's president is impeached minutes after resigning following a bank collapse npr.org
- Paraguay President Santiago Peña resigns after bank collapse bbc.co.uk
- Paraguay's President Santiago Pena resigns amid banking scandal batimes.com.ar
- Paraguay President Pena resigns in wake of bank collapse aljazeera.com
