Explainer
Why did Paraguay's Senate oust its president over a bank?
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In Asunción, lawmakers accuse ousted President Santiago Peña of steering public money into Ueno Bank, a digital lender many Paraguayans used. He denies wrongdoing.
Asunción
Regulators seized Ueno, and nearly three million customers lost access to their savings. By Saturday, 1.2 million had been repaid in full or in part, the central bank said. Vice President Pedro Alliana took over and pledged to help those affected.
1.2
Paraguay's largest teachers' union, with more than 40,000 members, plans an indefinite national strike Monday to press for protection of public pension funds.
40,000
In his farewell message, Peña wrote: "I do not want my presence to be a cause of greater division or instability."
“I do not want my presence to be a cause of greater division or instability.”
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Paraguay's Senate removes President Santiago Peña after Ueno Bank collapseRead the article
Based on reports by
- Bloomberg BusinessBank Crisis Drives an Ex-President to Wrest Power Back From His Protege
- AP NEWSParaguay's former president faces prosecutors after his removal over bank collapse
- Deutsche WelleParaguayan President removed and placed under house arrest
- Deutsche WelleHead of State under house arrest: What is happening in Paraguay?
- Deutsche WelleWho is Pedro Alliana, the new president of Paraguay
- BBCThe former president Peña spent his first night under arrest in a military barracks amid angry protests