Paraguay Bank Failure

Paraguay President Santiago Peña has resigned following the central bank's seizure of Ueno Bank, a digital lender with ties to his government. Peña announced his resignation Thursday in a video, citing the need to preserve the country’s stability amid massive protests and impeachment debates. He apologized to the public but did not accept responsibility for the banking crisis. Ueno Bank, which grew rapidly, was seized after regulators found risky lending practices. The bank's collapse has sparked protests, with demonstrators accusing Peña and his party of corruption. Authorities have detained several Ueno executives and charged others with fraud.