Staatskrise: Paraguays Präsident Peña tritt in Bankenkrise zurück

President Santiago Peña of Paraguay has announced his resignation amidst a severe banking crisis. He declared this decision in the country's best interest to maintain stability, according to a televised address. The scandal surrounding the digital bank Ueno has plunged the South American nation into a political crisis. The Central Bank initiated a resolution process against Ueno after the bank's equity ratio fell below 50 percent of the prescribed minimum.

Consequently, customers were temporarily unable to access their accounts. Peña emphasized that the sole priority now is to preserve the tranquility of Paraguayans who have entrusted their savings to the financial system. His greatest desire is for the guaranteed repayment of funds. He also apologized to the Paraguayan people if he committed any mistakes.

Peña faced criticism due to his business ties with Ueno, as he remained involved with the bank's parent company until March 2025. He had previously dismissed accusations of possible conflicts of interest. The opposition had initiated an impeachment process against Peña. Earlier, Central Bank chief Carvallo had to retract his stance due to an interest conflict related to his previous executive role at the digital bank.

The Ueno Bank, which serves approximately 2.8 million customers or about 60 percent of the country's adult population, had frozen accounts that also processed pension payments. Protests erupted in the capital, Asunción.