Paraguay Bank Failure
People protest outside Congress during a session to discuss President Santiago Pena's resignation, days after Paraguay's central bank took over Ueno Bank amid a solvency crisis, in Asuncion, Paraguay, Thursday, Nov. 5, 2026.
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Paraguayan President Santiago Peña failed to appear at his impeachment trial following a scandal surrounding a collapsed bank. Top aides have also resigned as the Senate resumed an impeachment trial Friday that could remove him from office. The crisis stems from the collapse of Ueno Bank, which froze the savings of millions. Senators rejected Peña’s request for more time to respond to accusations. Interior Minister Enrique Riera and other key officials resigned. Former President Horacio Cartes backed Peña’s ouster, and the lower house voted to impeach him. Prosecutors have opened investigations into the bank’s collapse.
