Paraguay's President Santiago Peña resigns and is impeached amid the Ueno Bank crisis
Summary
The collapse of Ueno Bank has left savers scrambling for their money and Paraguay's president facing calls for impeachment, The Independent reported on Thursday 5 November, Euronews writing that the accounting black hole at Ueno Bank is draining public funds, leaving thousands unable to access their deposits and pushing Paraguay into its worst institutional crisis in years. Santiago Peña resigned as president of Paraguay amid the Ueno Bank crisis and was later impeached over an alleged conflict of interest, and Vice President Pedro Alliana will take office, while millions of Paraguayans wait to recover their deposits, Euronews reported. The Guardian reported that Paraguay's rightwing president resigned after the savings of millions of people were frozen in the banking crisis, writing that Santiago Peña's administration had authorised Ueno Bank to drastically expand its operations before its collapse.
Latest: Santiago Peña resigned as president of Paraguay amid the Ueno Bank crisis and was later impeached over an alleged conflict of interest, and Vice President Pedro Alliana will take office, Euronews reported, The Guardian writing that the savings of millions of people are frozen in the banking crisis.
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How it unfolded
Thursday 5 November
Santiago Peña resigned as president of Paraguay amid the Ueno Bank crisis and was later impeached over an alleged conflict of interest, and Vice President Pedro Alliana will take office, Euronews reported, The Guardian writing that the savings of millions of people are frozen in the banking crisis.
- 13:49Euronews Paraguayan president resigns amid bank collapse leaving 3M people without access to bank accounts
- 13:48The Guardian Paraguay’s rightwing president resigns after savings of millions of people are frozen in banking crisis
- 10:52The Independent How one bank’s collapse is upending Paraguay, trapping savings and threatening its president
- 09:38Euronews Ueno Bank collapse in Paraguay prompts President Santiago Peña to resign
- 09:38Euronews Ueno Bank collapse in Paraguay triggers political earthquake for Santiago Peña
- 09:38Euronews Ueno Bank collapse sparks political crisis and impeachment move in Paraguay
- 09:38Euronews Ueno Bank collapse in Paraguay sparks political crisis for President Peña
- 09:38Euronews Ueno Bank liquidation triggers Paraguay political turmoil and impeachment move against Peña