Summary
Paraguayan President Santiago Pena resigned after the collapse of digital lender ueno left millions of customers unable to access their accounts and triggered calls for his removal. Vice President Pedro Alliana is set to replace him as lawmakers had accused Pena of conflicts of interest and other misconduct connected to the bank’s collapse.Key Facts
- Pena announced his resignation in a video address on Thursday.
- The collapse of ueno left millions of customers unable to access their accounts.
- Opposition lawmakers had called an extraordinary session to begin an impeachment process.
- Protesters demanded Pena’s resignation, and members of his conservative party withdrew their support.
- Vice President Pedro Alliana is set to take office as Pena’s replacement.
- Lawmakers accused Pena of conflicts of interest, misuse of pension funds and institutional cover-ups linked to ueno.
- Ueno had grown from a niche fintech company into a mid-tier bank that administered close to $850 million in public funds.
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