Paraguay's president is impeached minutes after resigning following a bank collapse

Paraguayan lawmakers voted to impeach President Santiago Peña minutes after his resignation, following a vote by the lower house of congress to pursue an impeachment trial. According to Cointelegraph, Peña stepped down amid scrutiny regarding his former ties to the parent company of Ueno Bank.

The political crisis follows the seizure of Ueno Bank by the country's central bank. KahawaTungu reports that on November 3, 2026, the Central Bank of Paraguay placed the large digital lender into resolution, shutting down operations and freezing all customer accounts due to a severe drop in the bank's solvency ratio. The bank's solvency had fallen below the legal minimum required by regulators.

The collapse has left millions of customers unable to access their money via cards, branches, or the bank's app. CBC News reports the bank claimed more than 60 percent of the country's adults as customers. KahawaTungu notes that Ueno Bank managed between $800 million and $850 million in public funds, including approximately $380 million from the state pension fund, Instituto de Previsión Social.

Brief written by urgent.news from NPR, KahawaTungu, Cointelegraph, CBC News, BBC World — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.