Paraguay Bank Failure
A demonstrator holds a mock U.S. dollar bill depicting Paraguayan President Santiago Peña during a protest against the government and Ueno Bank, which Paraguay's central bank seized amid a solvency crisis, in Asuncion, Paraguay, Wednesday, Nov. 4, 2026.
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Paraguay's lower house has voted unanimously to impeach President Santiago Peña after he announced his resignation. This follows the collapse of Ueno Bank, a major digital lender tied to his government, which froze millions of people’s savings. Thousands have been protesting for days, demanding to recoup lost savings, wages, and pensions. Peña, who was once an investor in a company related to Ueno Bank, resigned to preserve the country’s stability. The impeachment requires Senate approval. The bank's collapse has sparked public outrage, with many blaming Peña and his party for the financial turmoil.
