Paraguay's President Santiago Peña resigns after bank collapse
Paraguay's President Santiago Peña announced his resignation Thursday in a video on X, days after the central bank seized Ueno Bank, a major digital lender with close ties to his government, and as lawmakers debated his impeachment. He apologized but did not accept responsibility for the crisis. Ueno reportedly counted more than 60% of Paraguay's adults as customers. Vice President Pedro Alliana is expected to take over.
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Why it matters
Ueno Bank reportedly counted more than 60% of Paraguay's adults as customers, and about 280,000 customers who banked only with Ueno are being moved to accounts at other banks. Paraguay's government changes hands in the middle of the crisis.
How each side sees it
Sources
- AP via NBC Los Angeles: Paraguay President Santiago Peña resigns following bank collapse
- Infobae: Crisis en Paraguay
- BioBioChile: Santiago Peña renuncia a la presidencia de Paraguay
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