Paraguay's Senate removes President Peña after Ueno Bank collapse

hindustantimes.com —

Paraguay's Senate removed President Santiago Peña from office on Friday over the collapse of Ueno Bank, which locked nearly half the country's population out of their savings, and he was placed under house arrest. The central bank seized Ueno on November 3 after finding it short of capital. Congress rejected Peña's resignation offer, impeached him 78-0, and removed him 44-0. Vice President Pedro Alliana was sworn in as president the same day. Peña faces investigation for breach of trust and influence peddling, with lawmakers accusing him of steering public funds into Ueno, where he was a former business partner. He denies wrongdoing. Depositors are being repaid up to $35,000 each.


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