Paraguay’s President Santiago Peña Resigns Following Banking Collapse
Paraguayan President Santiago Peña submitted his resignation on Thursday, November 5, amid a deep financial and political crisis triggered by the collapse of Ueno Bank, one of the country’s leading digital banking institutions. The decision came after the Central Bank intervened in the institution, millions of customers temporarily lost access to their accounts, and Congress […]
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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Also reported by 7 other outlets
- Paraguay’s President Pena resigns under mounting pressure from bank collapse scmp.com
- Paraguay's president resigns amid banking scandal lemonde.fr
- 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
