Paraguayan President Resigns, Impeached Amid Bank Collapse Crisis

Paraguayan President Santiago Peña resigned and was impeached by Congress on November 5, 2026, following the collapse of Ueno Bank, a digital lender linked to his administration. The bank's failure, caused by poor lending practices, sparked public protests, froze millions in savings, and led to a run on other banks. The central bank seized Ueno Bank, and a new law ensures insured depositors will be repaid, with Vice President Pedro Alliana expected to become president. This event highlights significant financial instability and political fallout in Paraguay.