(261105) -- ASUNCION, Nov. 5, 2026 Photo by Xinhua/ABACAPRESS.COM) -- Paraguayan president resigns following bank collapse on Thursday. This file photo taken on April 30, 2023 shows Santiago Pena at a polling station prior to his presidency in Asuncion, capital of Paraguay. (Photo by Paulo Lopes/Xinhua/ABACAPRESS.COM
The key points are temporarily unavailable. You can still read the full Story below.
Main Points
Paraguayan lawmakers voted on Friday to remove President Santiago Peña from office, a decision that also stripped him of the lifetime Senate seat that would have granted him immunity from criminal prosecution. The vote was carried by 44 of the 45 senators, including members of Peña’s own party, after the collapse of Ueno Bank, a financial institution owned by the Grupo Vázquez group in which the former president had held shares until 2025. Ueno Bank entered bankruptcy in early March, prompting the Central Bank of Paraguay to take control of the institution and halt its operations. The bank’s failure left roughly three million customers—about 60 % of the country’s adult population—unable to withdraw funds, including savings and pension money. The bank also managed public funds and pension system assets, sparking widespread protests in Asunción and other cities. Protesters demanded the return of their money and accountability for those responsible for the bank’s collapse. Following the vote, authorities placed Peña under house arrest. He had announced his resignation on Thursday in a video message to the nation, in which he apologized for the situation and said, “It was never my intention to betray the trust you placed in me.” Despite his resignation, the parliament proceeded with the impeachment process, thereby removing his Senate seat and the associated immunity. Senate President Basilio Núñez declared Peña guilty of failing to perform his duties. Vice President Pedro Alliana was sworn in as interim president, a role he will hold until 2028. Alliana pledged that those who could not recover their funds due to the bank’s failure would receive full compensation. Peña is scheduled to be heard by prosecutors on Saturday. He faces charges of abuse of trust, influence peddling, and embezzlement. He will remain under house arrest until the charges are formally filed. His lawyer, Ricardo Preda, has dismissed the accusations as “unfounded and opportunistic.” The impeachment has opened the door for a criminal investigation, as the removal of presidential immunity allows prosecutors to pursue the case. Article source: Mediafax | Image credit: Mediafax
Paraguayan lawmakers voted on Friday to remove President Santiago Peña from office, a decision that also stripped him of the lifetime Senate seat that would have granted him immunity from criminal prosecution. The vote was carried by 44 of the 45 senators, including members of Peña’s own party, after the collapse of Ueno Bank, a financial institution owned by the Grupo Vázquez group in which the former president had held shares until 2025. Ueno Bank entered bankruptcy in early March, prompting the Central Bank of Paraguay to take control of the institution and halt its operations. The bank’s failure left roughly three million customers—about 60 % of the country’s adult population—unable to withdraw funds, including savings and pension money. The bank also managed public funds and pension system assets, sparking widespread protests in Asunción and other cities. Protesters demanded the return of their money and accountability for those responsible for the bank’s collapse. Following the vote, authorities placed Peña under house arrest. He had announced his resignation on Thursday in a video message to the nation, in which he apologized for the situation and said, “It was never my intention to betray the trust you placed in me.” Despite his resignation, the parliament proceeded with the impeachment process, thereby removing his Senate seat and the associated immunity. Senate President Basilio Núñez declared Peña guilty of failing to perform his duties. Vice President Pedro Alliana was sworn in as interim president, a role he will hold until 2028. Alliana pledged that those who could not recover their funds due to the bank’s failure would receive full compensation. Peña is scheduled to be heard by prosecutors on Saturday. He faces charges of abuse of trust, influence peddling, and embezzlement. He will remain under house arrest until the charges are formally filed. His lawyer, Ricardo Preda, has dismissed the accusations as “unfounded and opportunistic.” The impeachment has opened the door for a criminal investigation, as the removal of presidential immunity allows prosecutors to pursue the case.
News Desk is the editorial publishing account for Tringlobe Media News, covering breaking news, public affairs, entertainment, community developments and regional stories across Trinidad and Tobago, the Caribbean and internationally.
