Paraguay's President Impeached After Ueno Bank Collapse
Paraguay's President Santiago Peña was impeached on November 6 following the collapse of Ueno Bank, leaving 2.9 million clients unable to access their funds and triggering nationwide protests. The central bank suspended Ueno Bank's operations on November 3 after finding insufficient capital to cover financial risks. Investigations revealed suspected irregular loans and exposed $800 million in public funds, leading to eight arrests and 27 people under investigation. Peña, accused of conflicts of interest due to past ties with the bank's owner, was placed under house arrest after his unanimous Senate impeachment. Vice President Pedro Alliana has assumed office, promising full compensation while authorities begin partial reimbursements.