Watch: Paraguayan President Santiago Peña Resigns Amid Ueno Bank Collapse

Paraguayan President Santiago Peña resigned amid escalating political pressure following the sudden collapse of digital lender ueno bank.

The failure of the prominent financial institution left nearly three million citizens—roughly half the country's population—without access to their accounts, triggering widespread public outcry and political fallout.

Peña, who previously held business ties to the lender, faced intense scrutiny over regulatory oversight and conflict-of-interest allegations as the crisis unfolded.

Announcing his departure to preserve stability and democratic institutions, Peña steps down while lawmakers move forward with impeachment proceedings and prosecutors investigate financial irregularities surrounding the bank's downfall.

Watch this video by Reuters.

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tippinsightsTIPP Staff