Paraguay's president resigns amid banking scandal
Protests roiled the South American nation after a bank linked to President Santiago Pena blocked millions of people from accessing their money. The central bank took control of Uena Bank on Tuesday, citing a severe capital shortfall.
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.
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- 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 impeached after Ueno Bank collapse freezes millions in savings, sparks protests livemint.com
- 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
