Pedro Alliana sworn in as Paraguay's president after Congress impeaches Santiago Peña

Pedro Alliana was sworn in as Paraguay's new president on Friday after Congress impeached Santiago Peña, who was accused of conflict of interest over ties to Ueno Bank's parent conglomerate. The central bank intervened in the financial entity this week due to solvency issues, leaving millions without access to savings. Alliana, a longtime Colorado Party leader, pledged full compensation for those affected by the financial crisis. The party retained power through his succession, with analysts noting his deep territorial connections and bureaucratic knowledge contrast with Peña's technocratic background. Alliana previously served as governor of Ñeembucú and president of the Chamber of Deputies. His rise was closely tied to former President Horacio Cartes, though Alliana had recently distanced himself before reuniting with Cartes to back the impeachment. Born in Pilar, he began his political career in 2006 and has expressed interest in running for president again in 2028.