Paraguay Senate removes President Peña in unanimous impeachment
- The Paraguayan Senate voted 44-0 to impeach President Santiago Peña.
- Pedro Alliana has been sworn in as the new president of Paraguay.
- A banking crisis at Ueno Bank has left nearly three million customers unable to access funds.
- Prosecutors have launched criminal investigations into the collapse of Ueno Bank.
- Protesters are holding vigils outside the former president's home as a national strike looms.
On 6 November, reports stated that President Santiago Peña was removed from office after the Senate voted unanimously to impeach him, while other reports from 5 November stated that he resigned his position. The Senate impeachment vote was 44-0.
Following his removal, authorities placed the former president under house arrest. Pedro Alliana has been sworn in as the new president.
The impeachment and subsequent arrest occurred in connection with a financial crisis.
Ueno Bank collapse freezes funds for 2.9 million customers
Paraguay's central bank seized Ueno Bank before dawn on Tuesday, 3 November, amid a solvency crisis. This digital bank, which is associated with the former president, left millions of customers unable to access their accounts.
The collapse of Ueno Bank froze the funds of more than 2.9 million customers. This banking crisis left nearly three million people unable to access their money.
Reports indicate that the banking crisis rendered about 60% of the country unable to access their accounts.
Prosecutors investigate $800 million in public funds
Lawmakers have accused President Santiago Peña of conflicts of interest regarding Ueno Bank, which received more than $800 million in public funds. Prosecutors have since opened criminal investigations into the collapse of the institution.
A Paraguayan prosecutor announced that they would seek charges against President Santiago Peña following a bank collapse.
Protesters clash with police outside Peña's residence
Thousands of protesters demanding the return of frozen savings have clashed with police who used rubber bullets and pepper spray. On Friday night, police ringed the residence of President Peña while crowds gathered outside to keep vigil and prevent his escape.
During an anti-government protest in Asunción on 7 November, people burned an effigy of the president.
Paraguay’s largest teachers union, with more than 40,000 members, plans an indefinite national strike on Monday.
Presidential aides resign as political crisis deepens
Three top aides to President Santiago Peña resigned on Friday as the Paraguayan Senate resumed his impeachment trial. The government had restarted these impeachment proceedings as the national financial crisis intensified.
According to NPR, President Santiago Peña was impeached just minutes after he resigned following a bank collapse.
Miguel Carter, director of DEMOS, said Peña attempted to displace his mentor on very fragile grounds. Late last month, Peña met with U.S. Treasury Secretary Scott Bessent.
Frequently Asked Questions
- Paraguay president impeached, under house arrest amid banking crisis - UPI.com (upi.com)
- Ousted Paraguay president under house arrest after banking crisis leaves 60% of country unable to access accounts (theguardian.com)
- Paraguay’s Peña loses top aides as impeachment trial resumes over failed bank - Los Angeles Times (latimes.com)
- Paraguay (Wikipedia — background) (en.wikipedia.org)
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