Ueno Bank Collapse Topples Paraguay's President Santiago Peña

Ueno Bank collapsed in Paraguay after its solvency ratio fell below half the legal minimum, freezing funds for 2.94 million customers and triggering protests in Asunción. President Santiago Peña was impeached and removed by the Senate over alleged ties to the bank. Lawmakers accused Peña of directing public money into Ueno and ignoring risky insider lending, which he denied. Congress rejected his resignation, impeached him, and prosecutors placed him under house arrest for breach of trust and influence-peddling. Vice President Pedro Alliana was sworn in to serve until August 2028. Executives linked to Ueno face detention with frozen assets, while the central bank calls the collapse an isolated case.