Paraguay's president Peña impeached moments after resigning over banking scandal
Summary
Paraguay’s lower house voted unanimously to impeach President Santiago Peña amid protests over the government takeover of Ueno Bank. Peña announced his resignation shortly before the vote, and Vice President Pedro Alliana is set to replace him.Key Facts
- Paraguay’s central bank took control of Ueno Bank after citing a severe capital shortfall.
- The bank’s takeover left about three million depositors, including pensioners, unable to access their money.
- Opposition lawmakers accused Peña of favoring Ueno Bank in regulatory and pension fund decisions.
- Peña had owned shares in a group that controlled the bank and sold them last year.
- Peña asked Central Bank President Carlos Carvallo to resign; Carvallo later stepped down.
- Peña also enacted a law requiring most funds to be returned to depositors within five business days.
- Protesters in Asunción called for Peña’s removal and clashed with police, who used tear gas and water cannons.
- Vice President Pedro Alliana is to take over as Paraguay’s leader.
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