araguay President Santiago Peña Resigns After Banking Crisis

Paraguay President Santiago Peña resigned after Ueno Bank's collapse froze millions of customers' savings, triggering protests,

Paraguay’s President Santiago Peña has been removed from office following a banking crisis that froze the savings of millions of customers and triggered widespread protests, criminal investigations and impeachment proceedings.

Peña announced his resignation on Thursday, November 5, 2026, after the collapse of Ueno Bank, a major digital lender with business connections to him and his administration.

However, lawmakers declined to end the matter with his resignation and proceeded with impeachment proceedings over allegations of misconduct, conflicts of interest and failures in supervising the financial institution.

On Friday, November 6, Paraguay’s Senate voted unanimously to impeach Peña, removing him from office. Vice President Pedro Alliana subsequently took the oath of office as the country’s new president, assuming the remainder of the presidential term, which runs until August 2028.

Source: Y News