Paraguay’s President Santiago Pena has resigned amid mounting protests and an impending impeachment process following the collapse of digital lender Ueno Bank, which left around three million customers unable to access their accounts.
Pena faced accusations of conflicts of interest, misuse of pension funds and covering up institutional failures. He held shares in Ueno’s parent company until March 2025.
The central bank intervened after the lender breached minimum solvency requirements, while eight bank executives have been detained.
Vice-President Pedro Alliana is expected to succeed Pena.
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