Paraguay's president, Santiago Peña, faces impeachment drama and a bank collapse that jolts his leadership as he pushes ties with Taiwan.
Paraguay has faced a rapid collapse of Ueno Bank, a lender linked to President Peña, as regulators place it into resolution. The move effects roughly 60% of adults and triggers impeachment debates after two top aides resign and opposition calls for accountability. Deposits are being safeguarded while the government navigates a broader political crisis.
Paraguay has impeached President Santiago Pena after a rapid scandal over Ueno Bank’s collapse, which has frozen millions of depositor accounts and drawn protests. Central bank actions and a widening investigation point to broader regulatory and political upheaval in a country long seen as stable.
Paraguay’s youngest president has been removed by the Senate after a bank collapse linked to his government ties. Prosecutors are pursuing charges of breach of trust and mismanagement as deposits falter and street protests erupt in Asuncion.