Paraguay impeaches president after Ueno Bank collapse strands millions

Paraguay's Senate impeached President Santiago Peña for "improper performance of duties" following the collapse of Ueno Bank. He was detained and placed under house arrest on November 6. Peña is suspected of abuse of trust, influence peddling, and self-interested management. Vice President Pedro Alliana was sworn in to lead the country until August 2028, promising support for citizens affected by the financial crisis. Ueno Bank held nearly $850 million in state funds, including pension savings, and its collapse blocked access to funds for almost 3 million Paraguayans, nearly half the population, triggering mass protests.