Paraguay bank collapse strands half the population, topples president

A bank collapse in Paraguay has left nearly half the population unable to access savings, triggering a political crisis that led to President Santiago Pena's impeachment and removal from office. Pena, a former IMF economist, was impeached by the Senate on November 6 over alleged misconduct linked to Ueno Bank's failure. The digital lender, serving three million customers, was seized by regulators after its capital fell below legal minimums. The crisis exposed risky insider lending and put $850 million in public funds at risk. Pena, who denied wrongdoing, was placed under house arrest, with Vice President Pedro Alliana sworn in as his successor.