Paraguay resumes Pena impeachment proceedings as financial crisis deepens
Summary
Paraguay’s Senate has resumed impeachment proceedings against President Santiago Peña despite his resignation, following a lower-house vote approving charges 78–0. The proceedings stem from the collapse of Ueno Bank, which held public funds and left many customers unable to access their accounts.Key Facts
- Peña was elected president in 2023.
- The lower house approved impeachment charges by a vote of 78–0.
- Peña requested 72 more hours to prepare his defence before the Senate.
- Paraguay’s central bank intervened at Ueno Bank after citing failures to meet minimum solvency requirements.
- Ueno held $850 million in public funds, and more than half of Paraguay’s population reportedly lost access to their accounts.
- Lawmakers have questioned Peña’s former stake in Ueno’s parent company and whether regulators acted on warnings about the bank.
- Central bank chief Carlos Carvallo resigned, and eight Ueno executives faced arrest warrants before turning themselves in.
- The attorney general ordered three criminal investigations into the bank’s collapse, including its oversight and the placement of public funds there.
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