Paraguayan President Ousted After Ueno Bank Collapse

Story
Nov 7, 2026

Paraguayan President Ousted After Ueno Bank Collapse

Paraguayan President Santiago Peña was removed from office and placed under house arrest after the collapse of Ueno Bank triggered a financial crisis. Lawmakers cited alleged conflicts of interest and misuse of political influence in the impeachment proceedings.

Story coverage

conservative

Paraguayan President Peña Ousted, Placed Under House Arrest

Paraguay's Vice President Pedro Alliana was sworn in to serve the remainder of the ousted president’s term.

7 hours ago

liberal

Ousted Paraguay President Under House Arrest After Banking Crisis Leaves 60% of Country Unable to Access Accounts

Santiago Peña was detained minutes after he was impeached by Congress, as protesters took to the streets demanding answers after the suspension of the Ueno bank

9 hours ago

conservative

Pena skips Senate impeachment trial as Paraguay reels from Ueno bank collapse

Paraguayan President Santiago Pena failed to appear for his impeachment trial in the Senate on Friday despite vowing to defend himself in person, as lawmakers moved toward a verdict that could remove him from office over the dramatic collapse of a bank tied to his administration.

17 hours ago

conservative

Paraguay Begins Impeachment Proceedings Against President Following Bank Collapse

Paraguayan President Santiago Peña faces questions over his involvement with digital lender Ueno, as six of its executives are jailed pending trial.

17 hours ago

conservative

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.”

a day ago