Santiago Peña resigns as president of Paraguay amid Ueno Bank crisis

Santiago Peña has submitted his resignation as president of Paraguay in the context of a financial crisis triggered by the intervention of Ueno Bank. The decision was communicated through a message on his social media and comes amid growing political pressure.

The Central Bank of Paraguay (BCP) decided to intervene in Ueno Bank, resulting in millions of savers losing access to their funds. This event has generated uncertainty in the markets and discontent among the populace.

Congress has convened an extraordinary session to consider impeachment proceedings against Peña. The crisis has even led figures from his own Colorado Party, such as former president Horacio Cartes, to support the ousting process.

Peña's resignation comes after the loss of support from his party and in a climate of popular anger. In recent days, the dollar has surged nearly 10%, and the country’s risk has increased significantly, reflecting anxiety about the economy.

As discussions regarding Peña's potential impeachment are underway, the Chamber of Deputies is considering rejecting his resignation to prevent him from retaining immunity. His departure has left significant vacancies in the government, as Vice President Pedro Alliana will assume the role until the end of the term in 2028.

The scandal surrounding Ueno Bank and the resulting political crisis mark a turning point in Paraguay's political landscape, with citizens expressing concerns about the immediate future of the country in light of this situation.