Paraguay President Resigns as Bank Collapse Triggers Political Crisis

ASUNCION—Paraguayan President Santiago Peña resigned on Thursday after the collapse of digital lender ueno triggered a political and financial crisis, froze access to millions of accounts and rattled investor confidence in one of South America’s most stable economies. Peña stepped down hours ⁠before lawmakers moved ahead with impeachment proceedings, after losing support within his own conservative Colorado Party. In a statement on social media, Peña said he would appear before Senate impeachment proceedings to “exercise ​my right to a defense.” Peña said he would do so “not out of personal pride, but because being accountable and providing explanations ⁠is also a responsibility I owe to the Paraguayan people.”