Pedro Alliana takes office as Paraguay's president after bank collapse

Pedro Alliana was sworn in as Paraguay's president on Friday, just three days after a political crisis began, following the impeachment of his predecessor, Santiago Pena. The 52-year-old former vice president now leads the nation during acute turmoil caused by the collapse of Ueno Bank. The sudden bank failure froze the savings of half of Paraguay's adult population, creating the emergency that triggered Pena's ouster. Alliana, a former national basketball player and businessman backed by influential former president Horacio Cartes, has pledged to resolve the crisis before his term ends in August 2028. Alliana's rise follows a long political career marked by personal tragedy, including his brother's 2003 kidnapping and murder, and his own battles with leukemia. He previously served as governor, congressman, and Colorado Party leader, though his relationship with Cartes had recently cooled over presidential ambitions.