Paraguay's president tries to resign after a digital bank collapses
Congress refused Santiago Peña's resignation and moved towards impeachment after Ueno, used by about 3 million people, failed.
- ~$850M of public funds at Ueno
- Central bank chief resigned
- 3 criminal probes opened
What happened
Paraguay's central bank said digital lender Ueno had fallen below the legal solvency level, leaving many of its roughly 3 million customers, in a country of 6.5 million, cut off from their accounts, including pensions. Ueno also handled close to $850 million in public funds.
President Santiago Peña offered to resign on Thursday, but Congress did not accept it after ruling-party lawmakers walked out, and the Senate pushed ahead with impeachment proceedings instead.
Why he's under pressure
Peña once held a stake in Ueno's parent company, which he says he sold in 2025. The central bank chief has resigned and the attorney general has opened three criminal investigations. Peña says he will cooperate.
