Paraguayan President Santiago Peña announced his resignation amid a political crisis following the collapse of Ueno Bank. His departure depends on Congress accepting the resignation; if it does, Vice President Pedro Alliana would serve the rest of Peña’s term, scheduled to end in 2028.
Paraguay’s central bank announced resolution proceedings for Ueno Bank after finding its solvency ratio had fallen below half the regulatory minimum. Peña faced scrutiny over former business ties to the group that controls the bank and, according to Reuters, lawmakers were debating impeachment over allegations linked to its collapse. Peña denied wrongdoing.
