International

Paraguayan President Santiago Peña impeached following major banking crisis

Hindustan Times1h
THE BRIEF
1

President Santiago Peña has resigned and been impeached following the collapse of Ueno Bank, which held roughly $800 million in public deposits.

2

Prosecutors have launched three criminal investigations into government oversight of the bank and the placement of state pension funds within the lender.

3

Opposition lawmakers continue to push for prosecution, while Vice President Pedro Alliana is set to be sworn in to restore stability.