Paraguay's President Peña impeached and placed under house arrest as Ueno Bank collapse sparks protests

Summary

Paraguay's Ueno Bank was suspended after irregularities, leaving millions of customers unable to access their money. Euronews and Africanews report that nearly half the population has no access to its savings, while The Guardian puts the figure at 60% of the country. DW reports suspected financial fraud, with public money at risk. Thousands have protested, demanding that President Santiago Peña face impeachment, according to Euronews and France 24. France 24 reports that Peña submitted his resignation on Thursday, but Congress put it on hold as impeachment proceedings moved forward. The BBC reports that Peña was ousted through impeachment, and The Guardian reports that he was detained and placed under house arrest minutes after Congress impeached him. The Guardian also reports that he is being investigated over allegations that he used his political influence to favour Ueno, a bank that expanded rapidly under his government.

Timeline

1. Euronews

   6 Nov 2026, 08:06 UTCSource ↗

   Euronews reports that thousands of Paraguayans have taken to the streets over a banking scandal that has left nearly half the population without access to their savings, and that protesters are demanding President Santiago Peña face impeachment despite his offer to resign.

2. Africanews

   6 Nov 2026, 08:07 UTCSource ↗

   Africanews reports that thousands of Paraguayans have taken to the streets over a banking scandal that has left nearly half the population without access to their savings, and that protesters are demanding President Santiago Peña face impeachment despite his offer to resign.

3. France 24

   6 Nov 2026, 13:45 UTCSource ↗

   France 24 reports that President Santiago Peña submitted his resignation on Thursday, but Congress put it on hold as impeachment proceedings against him moved forward, amid a banking scandal that has affected millions and sparked protests.

4. DW

   6 Nov 2026, 20:23 UTCSource ↗

   DW reports that the sudden collapse of Ueno Bank has plunged Paraguay into a political crisis, with suspected financial fraud, public money at risk and millions of customers affected, as President Santiago Peña faces impeachment.

5. BBC

   7 Nov 2026, 01:07 UTCSource ↗

   The BBC reports that Santiago Peña was ousted through impeachment over a banking crisis that left millions of people unable to access their money.

6. The Guardian

   7 Nov 2026, 01:55 UTCSource ↗

   The Guardian reports that Peña was detained and placed under house arrest minutes after Congress impeached him, as a suspension of the Ueno bank left more than half the country's population unable to access accounts, and that he is being investigated over alleged favouritism toward the bank.