Paraguayan President Santiago Peña resigned on Thursday, Nov. 5, amid a political and banking crisis. (Foto: Instagram)
Paraguayan President Santiago Peña resigned on Thursday, Nov. 5, amid a political and banking crisis. The 47-year-old was elected in April 2023 as a member of the right-wing Colorado Party, succeeding fellow party member Mario Abdo Benítez.
Earlier that day, Paraguay’s Congress began the initial steps toward an impeachment vote against Peña and Vice President Pedro Alliana. The effort had support from both the opposition and members of the governing bloc.
The crisis began after digital bank Ueno shut down, leaving thousands of customers unable to access their money. Peña had been a shareholder in the group that controlled the institution.
The opposition has accused Paraguay’s Central Bank of covering up irregularities. The information available did not detail the alleged irregularities or explain further how the bank’s closure led to the impeachment effort.
