Paraguay’s President Santiago Peña was impeached and placed under house arrest on November 6, after a scandal related to the collapse of Ueno Bank caused widespread financial distress among citizens unable to access their savings and pensions.
In an unexpected turn, all 44 senators present in the vote, including members of Peña’s own political party, agreed to his removal. Following the impeachment vote, Peña was arrested just minutes later. Vice President Pedro Alliana has been sworn in as the interim president and is expected to hold the position until 2028.
Peña had previously offered to resign on November 5, but the Senate proceeded with impeachment, removing the immunity typically granted to former presidents. Senate President Basilio Núñez stated that Peña was guilty of “dereliction of duty.” The charges against him included conflicts of interest, manipulation of regulatory oversight, and misallocation of pension funds, among other allegations related to a suspected cover-up involving the central bank.
Notably, Peña owned shares in the company controlling Ueno Bank until last year. He has publicly denied any wrongdoing, although Prosecutor Silvia Margarita Gonzalez Vester indicated that Peña is scheduled to be questioned regarding the affair.
