Paraguay's President Peña resigns after ueno bank collapse locks customers out of their money

Summary

Paraguayan President Santiago Peña has resigned after the collapse of the ueno bank, which left many customers unable to access their money. The Japan Times reported that the bank collapse brought down the president, a Trump ally, and described the turmoil as a tectonic shift for the South American nation, which had projected stability to world leaders and foreign investors for years. Hindustan Times described the ueno collapse as a major jolt for Paraguay, which has spent years presenting itself as an economically stable destination for investors, and reported that the controversy around the bank had toppled the president and locked half the country out of its money.

Timeline

1. The Japan Times

   6 Nov 2026, 01:51 UTCSource ↗

   The Japan Times reports that a bank collapse has brought down Paraguay's president, a Trump ally, and that the turmoil marks a tectonic shift for the South American nation after years of projecting stability to world leaders and foreign investors.

2. Hindustan Times

   6 Nov 2026, 05:59 UTCSource ↗

   Hindustan Times reports that the ueno bank collapse has toppled President Santiago Peña and locked half the country out of its money, a major jolt for a country that has spent years presenting itself as an economically stable destination for investors.