Sen. Esperanza Martinez urged Paraguayan authorities to formally charge President Santiago Peña and prevent him from leaving the country as lawmakers advanced impeachment proceedings amid the Ueno Bank crisis. (Foto: Instagram)
During a joint session of Paraguay’s Senate on Thursday, Nov. 5, Senator Esperanza Martinez urged authorities to act quickly in the case against President Santiago Peña. She said officials should move to formally charge him and prevent him from leaving the country, warning that he could flee “as Bolsonaro did.” The remarks came as lawmakers considered an impeachment request against Peña amid a crisis involving Ueno Bank.
Martinez said Peña should be formally accused and his assets confiscated, arguing that international assistance could allow him to end up somewhere beyond the reach of Paraguayan justice. She also criticized prosecutors, saying they had held a request to bring charges against the president for some time without taking action. Her call for urgency came as the impeachment process moved forward in Congress.
The report identifies Martinez’s reference to Bolsonaro as a comparison with Brazilian Senator Flávio Bolsonaro. It says Flávio left Brazil the previous week after losing the presidential election to Luiz Inácio Lula da Silva, traveling by way of Argentina and Ecuador to the United States, where he has since remained. The account also says Flávio’s departure violated a court order barring him from leaving Brazil, issued after the Federal Police raised suspicions that he might flee. He is under investigation in three separate police cases, including over suspected money laundering and foreign-currency evasion.
The comparison resurfaced during a vote in Paraguay’s lower house. The Chamber of Deputies approved a request for a political trial against Peña by 78 votes. The case now goes to the Senate, where approval requires a two-thirds majority. The vote took place as Peña faced scrutiny over his past connection to Ueno: the president, an economist by training, was a shareholder in Ueno Holding until March 2025. The holding company is linked to the group that controls the bank.
On Nov. 3, Paraguay’s Central Bank ordered Ueno to cease operations, deeming it insolvent, meaning it could not meet its financial obligations. Prosecutors requested a criminal investigation into the bank and sought the arrest of two of its executives. Their inquiries include suspicions about the bank’s management and loans to companies connected to its controlling group, which may have weakened the bank’s assets. On Thursday, prosecutors also accepted a request to investigate alleged financial crimes by Peña; the allegations have not been established as fact.
Peña decided to resign as the impeachment effort advanced, but Congress must determine whether to accept his resignation. He is expected to submit the request formally. Paraguayan media have assessed that lawmakers may reject the resignation and continue the impeachment proceedings to prevent him from receiving special legal protections. Under Paraguay’s rules, a president who resigns is entitled to a lifetime seat in the Senate and retains legislative rights.
