Paraguay’s Peña Announces Resignation as Impeachment Advances

Paraguayan President Santiago Peña announced on November 5 that he would submit his resignation, as lawmakers advanced impeachment charges linked to the collapse of Ueno Bank. His departure was not yet formally completed: reports said the Senate still had to ratify the resignation, while the Senate was also expected to consider impeachment proceedings. In a video address, Peña said he had decided to resign with national stability and democratic institutions in mind. He apologized to Paraguayans if he had failed them and said he wanted depositors’ savings and public resources protected. He also said he had been a shareholder in Grupo Vázquez, which controlled Ueno, until March 2025. His recorded remarks did not establish the reasons for the bank’s failure or resolve allegations against him. The Chamber of Deputies approved impeachment charges against Peña by 78 votes, according to one report, while rejecting a separate effort to impeach Vice President Pedro Alliana. The Senate was to act as an impeachment tribunal. Separately, lawmakers were expected to receive Peña’s resignation, and Alliana was expected to assume the presidency if it was accepted. The supplied reports did not...