Paraguay swears in a new president as Santiago Peña is placed under house arrest
Vice President Pedro Alliana was sworn in as Paraguay's president on Friday after the Senate removed Santiago Peña over the collapse of Ueno bank. Prosecutors placed Peña under house arrest and ordered him to appear Saturday morning; he denies wrongdoing. Reuters reports Ueno provided accounts for nearly half of Paraguay's population. Alliana, 52, will serve until 2028 and promised to compensate affected savers.
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Why it matters
Ueno bank's collapse froze savings for about half of Paraguay's adults, according to Euronews, and the new president has promised to compensate affected savers. Former President Santiago Peña faces a criminal investigation; he denies wrongdoing.
How each side sees it
Sources
- Reuters via The Business Standard: Paraguay swears in new president as Peña is placed under house arrest
- Euronews: Pedro Alliana sworn in as Paraguay president
- Infobae: Pedro Alliana asumió como presidente de Paraguay
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