Paraguay's President Santiago Peña impeached and arrested

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1. 29m ago

   Paraguay's President Santiago Peña impeached and arrested

   President Santiago Peña of Paraguay has been impeached and arrested amid a crisis over the closure of Ueno Bank, which left nearly 3 million people without access to their funds. Peña, an economist and close ally of US President Donald Trump, was impeached by the Senate with 44 out of 45 senators voting in favour. He was placed under house arrest and charged with breach of trust and administration for personal gain.

   Why it matters

   The impeachment and arrest of President Peña follows a deepening financial crisis in Paraguay triggered by the collapse of Ueno Bank, a digital bank that had gained popularity in the country. The bank's collapse exposed a web of political and financial ties, leading to widespread outrage and calls for Peña's resignation. The crisis has left millions of people locked out of their accounts, with 60% of the country affected.

   What is confirmed

   • President Santiago Peña was impeached by the Senate with 44 out of 45 senators voting in favour.
   • Peña was placed under house arrest and charged with breach of trust and administration for personal gain.
   • The collapse of Ueno Bank left nearly 3 million people without access to their funds.
   • 60% of Paraguay was affected by the bank's collapse.
   • Pedro Alliana was sworn in as the new president of Paraguay.

   Still unconfirmed

   • Prosecutors charged Peña with breach of trust and administration for personal gain.

   What to watch next

   • The outcome of Peña's trial and potential further charges.
   • The investigation into the collapse of Ueno Bank and any potential further actions against those involved.
   • The impact of the crisis on the Paraguayan economy and the country's political landscape.
   Sources used for this update (15)

   1. CNN — President of Paraguay resigns as president of amid crisis over the closure of Ueno Bank
   2. Reuters — Explainer: What is ueno bank and how did it trigger Paraguay's political crisis?
   3. Reuters — Paraguay's Senate resumes President Peña impeachment proceedings
   4. Al Jazeera — How Paraguay’s Ueno collapse is only its latest banking crisis
   5. The New York Times — Paraguay’s President Removed Over Financial Crisis
   6. Al Jazeera — Paraguay’s Santiago Pena under arrest, new president Pedro Alliana sworn in
   7. BBC — Paraguay's President Santiago Peña impeached and arrested
   8. The Guardian — Ousted Paraguay president under house arrest after banking crisis leaves 60% of country unable to access accounts
   9. CNN — Paraguay president impeached and under house arrest following bank collapse scandal
   10. CBS News — Paraguay's ousted president under house arrest after bank collapse leaves millions locked out of accounts
   11. bfsi.economictimes.indiatimes.com — How a digital bank's collapse toppled Paraguay's president Santiago Pena
   12. ua.news — Paraguay’s interim president Alliana asks ministers to resign — Asharq Al-Awsat
   confidence 90%