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Claudia Sheinbaum, President of Mexico, defended the separation between political and economic power during a morning press conference on Friday. She was asked about the resignation of Paraguayan President Santiago Peña, who stepped down amid a political and financial crisis linked to alleged ties with a bank that had been seized by authorities. Sheinbaum said, “We have always said that there must be a separation between economic power and political power, each in its own sphere.” She added that, based on the information she has, Peña was involved with a bank, a situation that she believes prompted his resignation. She declined to provide further details until more information is available, stating, “It seems that the former president was involved in this bank, and that is why he decided to resign.” Peña submitted his resignation the day before he was to face a congressional impeachment proceeding. The controversy centers on Ueno Bank, a private institution that received millions of dollars from public bodies during Peña’s administration, including the agency that manages Paraguayan workers’ pensions. The bank was seized by financial regulators due to solvency problems, leaving about 2.9 million customers without access to their accounts and sparking public protests and a broader political crisis. Peña, who was a shareholder in a company linked to the bank until 2025, has denied any wrongdoing. He has said that his resignation was intended to preserve the stability of the country and its democratic institutions. However, his resignation remains unresolved because the Paraguayan Congress did not achieve the quorum required to decide on it. The Chamber of Deputies, meanwhile, approved an impeachment charge against him by unanimous vote. Peña remains formally in office while the institutional process continues. Article source: El Nuevo Diario | Image credit: El Nuevo Diario
Claudia Sheinbaum, President of Mexico, defended the separation between political and economic power during a morning press conference on Friday. She was asked about the resignation of Paraguayan President Santiago Peña, who stepped down amid a political and financial crisis linked to alleged ties with a bank that had been seized by authorities. Sheinbaum said, “We have always said that there must be a separation between economic power and political power, each in its own sphere.” She added that, based on the information she has, Peña was involved with a bank, a situation that she believes prompted his resignation. She declined to provide further details until more information is available, stating, “It seems that the former president was involved in this bank, and that is why he decided to resign.” Peña submitted his resignation the day before he was to face a congressional impeachment proceeding. The controversy centers on Ueno Bank, a private institution that received millions of dollars from public bodies during Peña’s administration, including the agency that manages Paraguayan workers’ pensions. The bank was seized by financial regulators due to solvency problems, leaving about 2.9 million customers without access to their accounts and sparking public protests and a broader political crisis. Peña, who was a shareholder in a company linked to the bank until 2025, has denied any wrongdoing. He has said that his resignation was intended to preserve the stability of the country and its democratic institutions. However, his resignation remains unresolved because the Paraguayan Congress did not achieve the quorum required to decide on it. The Chamber of Deputies, meanwhile, approved an impeachment charge against him by unanimous vote. Peña remains formally in office while the institutional process continues.
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