Paraguayan president announced resignation due to banking scandal

Paraguay's President Santiago Peña announced his resignation on social media just before parliament began impeachment proceedings against him. Peña, who took office in 2023, faced criticism due to his ties with Ueno Bank, which was placed under state administration for failing to meet regulatory standards. This situation affected many clients, including public institutions. In his resignation statement, Peña cited the need for national stability and the protection of democratic institutions. Following his announcement, the lower house of parliament initiated impeachment procedures, supported by both opposition and some government members.