Paraguay's President Santiago Peña impeached and under house arrest after bank collapse scandal

Paraguay’s President Santiago Peña was removed from office and placed under house arrest on Friday, November 6, after the collapse of Ueno Bank left millions of people unable to access their savings and pensions.

All 44 senators present, including members of Peña’s own party, voted to remove him. One senator was absent. Peña was arrested minutes after the vote, and Vice President Pedro Alliana was sworn in as interim president. He is expected to serve until 2028.

Peña had offered to resign on Thursday, November 5, but senators proceeded with impeachment, stripping him of the immunity normally granted to former presidents. Senate President Basilio Núñez said Peña had been found guilty of “dereliction of duty”.

The impeachment allegations included conflicts of interest, manipulation of regulatory oversight, diversion of pension funds and involvement in a cover-up involving the central bank. Peña, who until last year held shares in the company that owned Ueno Bank, has denied wrongdoing.

Prosecutor Silvia Margarita Gonzalez Vester said Peña was due to be questioned o