In brief
Paraguayan President Santiago Peña resigned after the digital bank Ueno collapsed, and minutes later lawmakers impeached him. The Associated Press reports the impeachment as a swift response to the crisis shaking the nation’s economy. Reuters explains Ueno’s rapid growth and decline, detailing regulatory scrutiny, alleged excessive lending, and links to Peña’s former business ties.
In Paraguay, President Santiago Peña resigned late Thursday after the digital bank Ueno collapsed, and minutes later lawmakers voted to impeach him, according to the Associated Press.
The Associated Press reports that the impeachment vote followed the earlier resignation, a swift response to the banking crisis that has shaken the country’s economy and eroded public confidence in its leadership.
Reuters details the background, explaining how Ueno, a digital lender that grew quickly from a niche fintech company in 2021 to a mid‑sized bank with about 3 million customers, collapsed after regulatory scrutiny over alleged excessive lending to companies linked to its controlling shareholder, Grupo Vázquez. The failure breached minimum solvency requirements, leaving millions of customers temporarily unable to access their accounts.
Both outlets trace the crisis to the collapse of Ueno, and Reuters notes that Peña has faced political scrutiny because of his past business ties to Grupo Vázquez. Reports say he sold his stake in March 2025 and has denied any direct relationship with the bank.
Claims that prosecutors investigated Peña over the bank's failure appear only in the Reuters article; no other source confirms the investigation. Likewise, the issuance of arrest warrants for eight Ueno executives is reported solely by Reuters.
