Paraguay’s president impeached and under house arrest after bank collapse
By: Nana Karikari, Senior Global Affairs Correspondent Paraguayan President Santiago Peña has been impeached and placed under house arrest after the sudden collapse of Ueno Bank triggered a historic political and financial crisis. The Paraguayan Senate voted 44 to 1 on Friday to remove Peña from office. One lawmaker was absent. The vote came shortly […]
Paraguay's Senate unanimously impeached President Santiago Peña and placed him under house arrest over the collapse of Ueno Bank. The vote came after Congress rejected his resignation, stripping the 47-year-old economist of his lifetime Senate seat and legal immunity. Vice-President Pedro Alliana was sworn in to serve the remainder of Peña's five-year term, while former health minister Antonio Barrios became the new vice-president.
Ueno Bank was seized by the central bank on November 3 after finding its capital had fallen below half the legal minimum, leaving nearly three million people without access to their savings and pensions. Peña faced charges of misconduct in office, conflicts of interest, manipulating regulatory oversight, and misappropriation of public funds.
However, he denied any wrongdoing and was allowed to voluntarily allow officers to enter his residence for procedural purposes. Alliana pledged to compensate compatriots affected by the financial collapse and vowed to stand firm against those who sought to steal the future from Paraguay's citizens.
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