Crisis-hit Paraguay impeaches Peña over bank crisis, replaces him with VP Alliana
Paraguayan senators have appointed Vice-President Pedro Alliana to lead the country after voting to impeach his predecessor Santiago Peña over a massive banking crisis. Leer más
Paraguay named Pedro Alliana as its new president on Friday following the impeachment of outgoing leader Santiago Peña. The move came after a banking crisis crippled nearly half of the country's accounts. Peña, who had ties to the troubled Ueno Bank, was found guilty of poor performance in his duties by the Senate. One senator was absent during the 44-1 vote in favor of impeachment.
Alliana, the former vice-president, pledged to compensate the affected depositors, estimated to be around three million people. The bank's collapse led to widespread protests, with hundreds gathering outside Congress to celebrate Peña's removal. He was placed under house arrest shortly after his impeachment, while Alliana officially took office until 2028.
The US-backed Peña denied any conflict of interest and urged Paraguayans to come together to restore trust in the institutions. The crisis also affected nearby Argentina and led to the arrest of eight Ueno executives.
Written by urgent.news from Buenos Aires Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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