Paraguay’s governing Colorado Party has backed impeachment proceedings against President Santiago Peña amid a banking crisis linked to Banco Ueno. (Foto: Instagram)
Paraguay’s Colorado Party, the governing party of President Santiago Peña, has announced its support for impeaching him. Party president Horacio Cartes said the party would not support the theft of public funds. The announcement comes amid a banking crisis linked to the dissolution of Banco Ueno, the country’s largest digital bank, and Peña’s ties to the institution.
In a statement, Cartes said the party would not side with the theft of public or private funds, or money belonging to retirees. He said the party should consider the public and the values it upholds, and support the impeachment process against Peña to restore the country’s institutions.
A group of 35 lawmakers filed the request to remove Peña following the banking crisis. Banco Ueno was dissolved on Tuesday, Nov. 3, after accusations of asset manipulation. Peña was a shareholder in Ueno Holding, the group that controls the bank, until 2025.
The Chamber of Deputies needs 54 votes—two-thirds of its members—to open impeachment proceedings. If the process advances, it would go to the Senate, where a two-thirds vote would also be required to remove the president. A special session of the lower house was scheduled to consider whether to open proceedings against Peña and Vice President Pedro Alianna.
Chamber President Raúl Latorre told Paraguayan media that most lawmakers support impeaching Peña, but not Alianna. Lawmakers seeking Peña’s removal also accuse him of changing conflict-of-interest laws to make it possible for social security funds to be concentrated in Banco Ueno. The claims are allegations made by the lawmakers who filed the impeachment request.
