Santiago Peña (center) with Marco Rubio (right) at a January 2025 meeting, an archive photo that does not show the resignation. Photo: Freddie Everett / U.S. Department of State / Wikimedia Commons / public domain.
Paraguay President Santiago Peña has resigned following the collapse of Ueno Bank, The Associated Press reported in a news alert.
ABC Color also reported that Peña had presented his resignation in a November 5 report. A direct statement from the presidency was not yet available to JBizNews.
A banking collapse becomes a presidential crisis
Peña took office in August 2023 for a term due to run until 2028, ABC Color reported. The newspaper said the resignation followed the Ueno Bank crisis and an opposition effort to bring impeachment proceedings. It reported that Peña had held a stake in Ueno Holding until 2025.
What Ueno Bank’s collapse means for customers
Ueno is a Paraguayan bank whose operations were frozen over solvency problems, according to Bloomberg reporting published by El Financiero. The report said it had accumulated more than 2.9 million customers and about $2.8 billion in deposits.
Bloomberg described the affected customer base as roughly 60% of Paraguay’s adult population, not 60% of all residents. Customers’ inability to access accounts is not the same as confirmation that all deposits have been permanently lost.
For households and businesses, the immediate financial problem is access to money held at the bank. The resignation reports add a political crisis, but do not by themselves settle how customers will recover funds or how quickly access will be restored.
JBizNews Desk | Global
© JBizNews.com. All rights reserved. Unauthorized reproduction or redistribution is strictly prohibited.
