Paraguayan President Santiago Peña announced his resignation Thursday, November 5, 2026, as the sudden collapse of digital lender Ueno Bank locked nearly three million customers out of their accounts, including pensions and public funds, and ignited protests outside Congress.
Peña, a conservative Colorado Party figure elected in 2023 and an ally of President Donald Trump, stepped down hours before lawmakers advanced impeachment charges tied to his prior business links to the bank’s ownership group, BBC reported.
In a video message posted to X, Peña stated he was resigning “with the stability of our country, social peace, and the need to preserve our democratic institutions in mind.”
He added: “I want to apologize to the people if at any point I failed. It was never my intention to betray the trust you placed in me.”
He emphasized that “no public office can take precedence over the well-being of Paraguay” and urged protection of depositors, saying behind every account were “years of effort, sacrifices and family plans.”
A formal resignation letter was later delivered to Congress. Minutes after the announcement, Paraguay’s lower house voted to pursue impeachment (reported as 78-0 or unanimous in multiple accounts), while rejecting a parallel motion against Vice President Pedro Alliana, who stands next in line for the presidency.
The Senate process continued, with Peña indicating he would appear to defend himself.
