Paraguay’s President Steps Down as a Bank Collapse Freezes Millions of Accounts

Paraguay is in political turmoil. According to Euronews, President Santiago Peña resigned amid the Ueno Bank crisis. The same report says he was later impeached over an alleged conflict of interest, and Vice President Pedro Alliana is set to take over.

The scale is what stands out: Euronews cites about 3 million people locked out of their bank accounts and millions of Paraguayans waiting to see whether they get their deposits back. Related coverage shows thousands protesting the banking scandal as impeachment loomed, with protesters burning an effigy of Peña outside Congress.