On November 8, 2026, significant political events unfolded in Paraguay as former president Santiago Peña was impeached. This decision came amid a serious political and financial crisis triggered by the collapse of Ueno Bank, leaving millions of clients without access to their accounts.
Reasons for Impeachment
Lawmakers accused Peña of abusing his official position. According to prosecutors, he used his power to influence decisions of government bodies and enterprises to retain large sums of public funds in Ueno Bank, which had close financial ties to the president.
The Situation with Ueno Bank
The collapse of Ueno Bank has led to severe repercussions for the country's economy. Millions of clients found themselves without access to their savings, sparking mass protests among the population. The authorities are attempting to find solutions to compensate for the clients' losses, but the situation remains tense.
Next Steps and Reactions
Following the impeachment announcement, Peña was placed under house arrest and later taken into custody. The political situation in the country remains unstable, and lawmakers promise to continue investigations into other possible abuses by the former president.