Paraguay Senate launches impeachment trial against President Peña after Ueno Bank collapse

Paraguay’s Senate has begun impeachment proceedings against President Santiago Peña following the collapse of Ueno Bank, which left millions of customers unable to access their funds. Lawmakers rejected his offer to resign and moved forward with the process. The crisis began when the Central Bank seized Ueno Bank on Tuesday over financial stability concerns. Peña apologized for any failures but denied opposition accusations of a conflict of interest and a "criminal scheme," while the Attorney General’s Office launched an investigation into his alleged involvement. Ueno grew from a digital fintech serving low-income communities into a major bank handling government pensions and state accounts. The U.S. Embassy expressed solidarity with citizens but avoided commenting on the proceedings.