Paraguay President Announces Resignation Amid Bank Collapse Fallout

Paraguayan President Santiago Peña has announced his resignation after nationwide protests and an impeachment push linked to the collapse of Ueno Bank. The bank’s shutdown left nearly three million customers unable to access their accounts after the central bank intervened over solvency concerns. Opposition lawmakers accused Peña of conflicts of interest, misuse of pension funds and a cover-up. Protesters demanded his departure, and he also lost support from members of his own Colorado Party. Vice President Pedro Alliana is expected to take over, pending Congress’s decision on Peña’s resignation. Peña took office in August 2023 for a five-year term.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.