Paraguayan President Santiago Peña has resigned following a major banking crisis triggered by the collapse of Ueno Bank, which left approximately three million customers unable to access their money.
Peña announced his resignation on Thursday, November 5, 2026, as political pressure mounted over the banking scandal and lawmakers prepared to pursue his impeachment.
The crisis erupted after Paraguay's central bank intervened in Ueno Bank following revelations that the financial institution had fallen below the legally required minimum solvency levels.
The bank, which served approximately three million customers in a country of about 6.5 million people, had its operations disrupted, leaving millions of depositors unable to access their savings through normal banking services.
The situation also affected public funds, with Ueno reportedly administering approximately $850 million in government-related deposits, including money connected to pension and health institutions.
The scandal had already triggered the resignation of Paraguay's central bank chief, while authorities detained eight bank executives as investigations into alleged financial irregularities continued.
In his resignation address, Peña said his decision was intended to protect national stability, social peace and democratic institutions. He also apologised to citizens and called for the protection and eventual return of depositors' money.
The political fallout intensified when Paraguay's lower house voted to impeach him shortly after his resignation announcement, although the Senate still had to consider the charges.
Vice President Pedro Alliana was expected to take over the presidency as the country faced growing pressure to restore confidence in its banking sector and protect affected depositors.
The unfolding crisis has raised serious questions about financial regulation, accountability and the protection of public money in Paraguay.
Source:https://www.facebook.com/100064794367851/posts/1615886433914487/
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