Paraguayan President Santiago Peña Resigns Following Collapse of Ueno Digital Bank

On Thursday, Paraguayan President Santiago Peña announced his resignation amid an escalating political crisis triggered by the collapse of digital bank Ueno Bank. In a video posted on X, he emphasized that the move aims to safeguard national stability, social peace, and democratic institutions—and prioritizes protecting Paraguayan citizens who entrusted their savings to the financial system. Earlier, on Tuesday, Paraguay’s central bank announced it had initiated liquidation proceedings against Ueno Bank after its solvency ratio fell below half the regulatory minimum. Peña has faced political scrutiny due to his long-standing business ties with Grupo Vázquez, Ueno Bank’s parent company—according to the Associated Press, he remained a commercial partner of the group until March 2025. Peña denies any wrongdoing, calling the controversy