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Paraguayan President Resigns Amid Ueno Digital Bank Collapse
Paraguay's President Santiago Peña resigned following the Ueno digital bank crisis, leading to an impeachment vote by the parliament.
Mercation Admin
November 6, 2026 1 min read
On November 3, Paraguay's Central Bank intervened to take control of the digital bank Ueno due to a severe capital shortage, assuring depositors of payouts from the deposit guarantee fund. Approximately 3 million customers lost access to their accounts, and around $800-850 million in government funds were frozen. In response to public protests, President Santiago Peña, who until 2025 held a stake in the group that controlled Ueno, announced his resignation. However, the parliament did not accept his resignation, and the lower house unanimously voted for his impeachment.



