In brief
President Santiago Peña of Paraguay resigned on Nov. 5 amid the collapse of digital lender Ueno Bank, which left millions of customers without access to their accounts. Lawmakers have filed an impeachment motion against him and Vice‑President Pedro Alliana, while the Central Bank began resolution proceedings for the failed bank. The resignation led to the departure of central bank chief Carlos Carvallo and sets Pedro Alliana on the verge of taking office.
Confirmed: President Santiago Peña announced his resignation on Nov. 5 in a video posted on X, citing the need to safeguard national stability amid the collapse of digital lender Ueno Bank.
Confirmed: The collapse of Ueno Bank left nearly 3 million customers, roughly half of Paraguay’s 6.5 million residents, unable to access their accounts, triggering a political crisis.
Confirmed: A proposal to impeach Peña and Vice‑President Pedro Alliana was submitted by 35 lawmakers on Wednesday, amid accusations that Peña’s former stake in Ueno Holding created conflicts of interest.
Confirmed: Paraguay’s Central Bank intervened on Tuesday, initiating resolution proceedings after determining that Ueno’s solvency ratio was below the required minimum.
“I do so with the stability of our country, social peace and the need to preserve our democratic institutions in mind,” Peña said in his video address.
– President Santiago Peña
Unconfirmed: Prosecutors allegedly ordered the arrest of eight Ueno executives, who were reportedly detained – a claim that has yet to receive official confirmation.
Confirmed: Former President Horacio Cartes withdrew his support for Peña, and the resignation precipitated the departure of central bank chief Carlos Carvallo at Peña’s request.
Confirmed: Vice‑President Pedro Alliana is set to assume the presidency following Peña’s resignation.
