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President of Paraguay resigns amid crisis over bank collapse
CNN • • general
Key Points:
- Paraguayan President Santiago Peña resigned amid a scandal following the overnight shutdown of Ueno Bank due to a solvency crisis, which left millions of customers unable to access their funds.
- Peña cited the need to maintain national stability, social peace, and preserve public institutions as reasons for his resignation, prioritizing the peace of mind of affected Paraguayans.
- Paraguay’s Congress was initiating impeachment proceedings against Peña for alleged serious dereliction of duty related to the Ueno Bank crisis, with 35 lawmakers pushing for his removal.
- Ueno Bank, linked to Peña and a recipient of millions in public funds during his administration, was found by the Central Bank to have a solvency ratio below 50% of the required minimum, leading to the freezing of customer savings.
- The scandal has sparked political turmoil, with the Chamber of Deputies debating charges against Peña and the public awaiting Congress’s decision on whether to accept his resignation.
