Paraguay president resigns as Ueno Bank crisis triggers political turmoil

The resignation, reported by Deutsche Welle, Euronews, Tagesschau, The Guardian and The Hindu, followed a crisis centered on Ueno Bank and allegations of business or financial relationships involving Peña and the bank or its parent company. The reports describe the bank as collapsed or failed, while customers struggled to access their deposits.

The disruption extended beyond private savings. Deutsche Welle reported that public pension and health-care funds were also tied up in the crisis. Euronews reported that approximately 3 million people lacked access to bank accounts or deposits, although Deutsche Welle described the affected population only as millions. Protests were also reported, with The Hindu saying that thousands gathered outside Congress against the president.

The scale of Ueno Bank’s rise formed part of the political backdrop. The Guardian reported that the lender grew under Peña from an obscure digital bank into one of Paraguay’s largest lenders, and said the bank claimed to have customers representing about 60% of the country’s adult population. The available reporting does not establish that Peña’s administration caused the expansion, but it places the bank’s growth within the period before its reported collapse.

The political transition remained unclear in the supplied accounts. The Times of India reported that lawmakers were moving to impeach Peña, while Euronews reported that he was later impeached and that Vice President Pedro Alliana would take office. Those reports do not establish the precise legal or chronological relationship between Peña’s resignation and any impeachment proceeding.

The reported resignation therefore linked three strands of the crisis: inaccessible customer funds, allegations concerning the president’s ties to the failed lender and pressure in Congress and on the streets. The reporting also leaves unresolved the final number of people affected and the exact sequence of the resignation, any impeachment action and Alliana’s reported succession.