Paraguay's ousted president faces prosecutors after his removal over bank collapse
Summary
Paraguay’s Congress removed President Santiago Peña after the collapse of Ueno Bank, and prosecutors questioned him as part of a criminal investigation. The bank failure froze access to accounts for nearly 3 million customers; Paraguay’s Central Bank said 1.2 million had received partial or full reimbursement of insured deposits.Key Facts
- Congress voted unanimously to remove Peña from office over his links to the bank’s collapse.
- Prosecutors ordered Peña’s arrest along with former Central Bank chief Carlos Carvallo in an investigation into alleged breach of trust and other offenses.
- Peña denied wrongdoing.
- Vice President Pedro Alliana replaced Peña and began naming a new Cabinet.
- Regulators seized Ueno Bank three days before the congressional vote, freezing customers’ access to their savings.
- The Central Bank said 1.2 million Ueno customers had received partial or full reimbursement of insured deposits.
- Thousands of protesters demanded access to frozen savings and accountability; police used rubber bullets and pepper spray during clashes.
- Paraguay’s largest teachers’ union planned to begin an indefinite national strike Monday to seek protection for public pension funds.
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