Paraguay President Peña Resigns As Ueno Bank Collapse Triggers Protests, Impeachment Threat.
Paraguayan President Santiago Peña has resigned following the collapse of digital lender UenoBank, which triggered a banking crisis, protests and calls for his impeachment.
Peña announced his resignation in a recorded video address on Tuesday, saying his decision was guided by the need to protect the country’s stability, social peace and democratic institutions.
The crisis also forced the resignation of Central Bank President Carlos Carvallo, while eight senior Ueno executives, including the bank’s founder and president, were detained as partof an investigation into the collapse.
The bank’s failure left about three million customers, nearly half of Paraguay’s population of 6.5 million, unable to access their accounts. The development sparked protests, with customers demanding access to their money as opposition lawmakers prepared to begin impeachment proceedings against Peña. The president’s resignation came amid allegations of conflicts of interest, misuse of pension funds and an institutional cover-up linked to the bank’s collapse. Peña, an economist elected in 2023, previously held shares in Grupo Vázquez, the business group that owned Ueno Bank until March 2025.
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