Paraguay’s president impeached amid bank collapse crisis
Lawmakers have voted to impeach Paraguay’s President Santiago Pena amid a banking collapse that has roiled the country. Prosecutors have opened three criminal investigations into the collapse of Ueno Bank, including allegations involving the president.
Paraguay’s President Santiago Peña has announced his resignation following a political crisis sparked by the collapse of a bank linked to him. Protesters gathered near the Paraguayan Congress on Thursday Peña won the 2023 election representing Paraguay’s ruling conservative Colorado Party, beating a centre-left challenger.
Paraguayan President Santiago Peña has reportedly resigned amid a political crisis following the collapse of Ueno Bank, a digital lender allegedly linked to his former business interests. According to Reuters, the resignation followed moves by Paraguay’s lower house of Congress to pursue impeachment proceedings against Peña over allegations of conflict of interest and misconduct relating to the bank.
Political turmoil comes after a digital bank's failure has left half the population without access to their accounts.
The president said he resigned to protect stability, social peace, and democratic institutions.
The country's first nationwide elections since 1969 are due next year - a timetable now thrown into doubt.
Announcement comes after majority of Israeli lawmakers endorse Eisenkot over Netanyahu.