The President of Paraguay apologized and then resigned after the collapse of the Ueno bank, which was also financed by OTP.
Paraguayan President Santiago Peña resigned following a political crisis triggered by the collapse of Ueno Bank. In a video message, he apologized and stated his intention to maintain national stability and democratic institutions. The crisis began when the central bank intervened to save Ueno Bank, which had insufficient capital, leading to widespread protests demanding Peña's resignation. Lawmakers accused him of conflicts of interest due to his previous stake in the bank. The opposition initiated impeachment proceedings, which the lower house of Congress approved. Additionally, Hungarian OTP Bank acquired a stake in Ueno, clarifying its role as a financial investor without management rights.
Fact-check this story: paste the text or link into Justifact and get a verdict with the sources consulted.