Paraguay's President Santiago Peña resigns and is impeached after bank collapse
Lawmakers voted 78-0 to impeach Peña minutes after he announced his resignation, as protests spread over frozen savings at Ueno Bank.
Paraguayan President Santiago Peña announced his resignation on Thursday after the collapse of Ueno Bank, a major digital bank tied to his government. The collapse triggered widespread protests and froze the savings of millions of people. Minutes later, the lower house voted 78-0 to impeach him, sending the charges to the Senate.
Congressional leaders were expected to accept his resignation later Thursday, allowing Vice President Pedro Alliana to take office without a Senate trial. Opposition senators argued that a resignation would preserve Peña's eligibility to become a senator for life, with legal protections. Even Colorado Party leader Horacio Cartes backed impeachment.
Peña apologized but did not accept responsibility for the turmoil. The guaraní fell nearly 4% against the U.S. dollar on Thursday, and about 7% for the week. Ueno Bank had claimed more than 60% of Paraguay's adults as customers.
Key points
- Peña resigned and was impeached 78-0 in the lower house
- Ueno Bank collapse froze millions of people's savings
- Guaraní fell nearly 4% Thursday, about 7% this week
- Vice President Pedro Alliana expected to take office
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