Paraguay's Senate impeaches president over bank collapse; Peña placed under house arrest

Paraguay's Senate impeached President Santiago Peña on November 6, and he was placed under house arrest. He resigned following the collapse of Ueno Bank, which served most of the country's population. Peña is suspected of abuse of trust, influence peddling, and using his office for personal gain, facing up to 10 years in prison on the most serious charges. Prosecutors allege he directed hundreds of millions in state funds to the failed bank, including $355 million from the pension fund, exceeding legal limits. The Central Bank seized Ueno Bank on November 3, freezing access for clients, including two-thirds of the adult population and businesses. Repayments began November 5, prioritizing accounts under $1,500, with insurance covering up to $35,000 for 97% of depositors.