Paraguay removes President Santiago Peña as banking crisis deepens

The banking crisis left millions of people unable to access their money or savings, according to reports cited in the supplied coverage. The disruption became the central issue in the proceedings against Peña and turned a financial failure into a major political crisis.

Alliana took over the presidency after Peña’s removal. ANSA reported that he would complete the presidential mandate through 2028, although the fact of his succession is also supported by The Japan Times.

Peña was subsequently placed under house arrest. He also faced legal proceedings connected with the banking scandal, but the supplied reports use different descriptions of the case, including charges, an arrest warrant, a request for investigative detention and suspicion of breach of trust. The precise charge and procedural status are not consistently established in the available material.

France 24 reported that Peña denied wrongdoing in connection with the scandal. France 24 and the South China Morning Post also reported that he offered his resignation, but lawmakers continued with impeachment proceedings.

The scale of the banking fallout remains described in varying terms: the supplied reports refer to either three million or nearly three million affected customers. The Hindu also reported that the crisis triggered nationwide protests. The sources agree on the removal, the succession and the broad financial impact, but do not establish a uniform Senate vote, a complete chronology of the legal steps or the final outcome of the proceedings.