President of Paraguay resigns amid crisis over bank collapse that left millions unable to access their money
Paraguayan President Santiago Peña resigned Thursday under intense pressure after the collapse of Ueno Bank left millions of customers unable to access their accounts. The Senate voted to impeach him, and he is now under house arrest facing a criminal investigation. Eight Ueno executives have been detained, and the central bank chief has also resigned. Vice President Pedro Alliana has assumed the presidency.
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- ✓ President Santiago Peña resigned on Thursday amid the Ueno Bank crisis.
- ✓ The Senate voted to impeach President Peña.
- ✓ President Peña is under house arrest and facing a criminal investigation.
- ✓ Ueno Bank's collapse left millions of customers unable to access their accounts.
What changed
President Santiago Peña resigned, was impeached by the Senate, and placed under house arrest; Pedro Alliana assumed the presidency.
Live updates
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Paraguay President Santiago Peña resigns amid Ueno Bank collapse crisis
Paraguayan President Santiago Peña resigned Thursday under intense pressure after the collapse of Ueno Bank left millions of customers unable to access their accounts. The Senate voted to impeach him, and he is now under house arrest facing a criminal investigation. Eight Ueno executives have been detained, and the central bank chief has also resigned. Vice President Pedro Alliana has assumed the presidency.
Why it matters
Ueno Bank was a major digital lender with close ties to Peña's administration. Its sudden failure triggered a financial panic and a political crisis, as lawmakers accused the president of conflicts of interest and mishandling the fallout. The collapse has frozen savings for a significant portion of the population, undermining trust in the financial system.
What is confirmed
- President Santiago Peña resigned on Thursday amid the Ueno Bank crisis.
- The Senate voted to impeach President Peña.
- President Peña is under house arrest and facing a criminal investigation.
- Ueno Bank's collapse left millions of customers unable to access their accounts.
- Eight Ueno Bank executives have been detained.
- Paraguay's central bank chief resigned due to the fallout.
- Vice President Pedro Alliana has assumed the presidency.
What to watch next
- Details of the criminal investigation against former President Peña.
- Government measures to restore access to frozen Ueno Bank deposits.
- Potential broader financial contagion or further political fallout.
confidence 93%Sources used for this update (11)
- www.amnesty.org — Amnesty International
- Reuters — Paraguay bank crisis spurs lawmakers' calls to impeach president
- The Economist — Paraguay’s swaggering digital bank has fallen
- CNN — President of Paraguay resigns as president of amid crisis over the closure of Ueno Bank
- AP News — How one bank’s collapse is upending Paraguay, trapping savings and threatening its president
- Euronews.com — Ueno Bank collapse in Paraguay prompts President Santiago Peña to resign
- www.cbsnews.com — Paraguay's ousted president under house arrest after bank collapse leaves millions locked out of accounts
- antigua.news — Paraguay President Santiago Peña Impeached and Arrested Amid Massive Banking Scandal
- www.nbcnews.com — Paraguay President Peña resigns under mounting pressure from ...
- www.china.org.cn — Paraguayan president resigns following bank collapse - China.org.cn
- www.cnn.com — Paraguay president impeached and under house arrest following ...
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