Paraguayan President Santiago Peña resigns following the Ueno Bank crisis
Paraguayan President Santiago Peña submitted his resignation this Thursday following the financial collapse of Ueno Bank and the freeze on bank deposits. The move occurred amid an impeachment process promoted by Congress and citizen protests.
The crisis erupted after the central bank ordered the resolution of Ueno Bank due to insolvency, which affected access to funds for millions of customers and retirees. The situation generated social unrest and demonstrations in Asunción.
Legislators from various sectors, including former political allies of the president, supported the opening of an impeachment proceeding to demand administrative accountability regarding the president's previous ties to the financial institution.
After announcing his resignation in an official message, Peña stated that his decision seeks to preserve the democratic stability of the country. Authorities are reviewing the presidential succession in accordance with constitutional regulations.
- Santiago Peña resigned from the presidency of Paraguay on Thursday.
- Ueno Bank was intervened for insolvency by the central bank.
- Congress unanimously initiated an impeachment process.
- The banking crisis affected millions of depositors and state funds.
Corroborates: Paraguayan President Santiago Peña resigns following the Ueno Bank crisis