Paraguay President Santiago Peña resigns after bank collapse
The move follows a bank collapse and after the lower house of congress voted in favour of pursuing an impeachment trial against him.
Key points
- Paraguay's President Santiago Peña resigned after Ueno Bank, linked to him, entered insolvency.
- The lower house of congress voted in favour of pursuing an impeachment trial against him.
- Peña apologised to the people in a video message on social media.
Paraguay's President Santiago Peña has announced his resignation after a political crisis triggered by the collapse of a bank linked to him. The announcement was made in a video message on social media.
The crisis began after Ueno Bank, a financial institution connected to Peña, entered an insolvency process that froze all its operations. His resignation followed a vote in Paraguay's lower house of congress in favour of pursuing an impeachment trial against him.
President's apology
In his video message, Peña apologised to the people of Paraguay. He said he was sorry if he had failed at any point during his time in office.
I want to apologise to the people if at any point I failed
— Santiago Peña
Story still developing
The report was published as breaking news and is being updated, with more details expected to follow. No further information on the timing of his departure or a successor was given in the article.
