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Paraguay ousts President Peña over bank collapse

Paraguay's Senate removed President Santiago Peña for misconduct in office on Friday, with all 44 senators present voting in favor, after regulators seized Ueno Bank on Nov. 3. Vice President Pedro Alliana was sworn in to serve until August 2028. Prosecutors placed Peña under house arrest on suspicion of breach of trust, influence peddling and using public office for personal gain. Lawmakers accuse him of steering public funds into the bank; Peña denies wrongdoing.

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How each side sees it

Lawmakers who removed him sayPeña used his political influence to steer hundreds of millions of dollars in public funds into Ueno Bank.
Santiago Peña saysHe denies wrongdoing and said he did not want his "presence to be a cause of greater division or instability."

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Published Sunday, November 8, 2026. Spot an error? Email [email protected]. See our corrections log and standards.

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