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The president announced this Thursday his resignation for his role in managing one of the country's major banks, which was intervened this week.
Dozens of Paraguayans move in Asunción to the cry of "political judgment" and "not a step back," after President Santiago Peña announced his resignation in the midst of the crisis unleashed by the intervention and closure of Ueno Bank, which affects millions of customers.
The President of Paraguay resigned in the midst of the crisis unleashed by Ueno Bank's intervention. The Congress will begin a political trial on Thursday against Peña after having no quorum to decide whether or not to accept his resignation.
Following the pressure of a possible political trial and protests on the streets, Santiago Peña resigned the Paraguayan Presidency. Peña presented her resignation through a video published on her social networks, following the intervention and closure of Ueno Bank, which affects millions of customers and opened a front of political instability. The decision takes place after the blocks of the Chamber of Deputies announced their support for the political trial and confirmed the votes necessary to move forward with the dismissal. From Asunción, our correspondent, Flavia Borja, extended the details.
Paraguay's President, Santiago Peña, resigned in the midst of the crisis unleashed by the intervention and closure of Ueno Bank, which affects millions of customers and opened a front of political instability. However, Congress continues to debate in order to advance the political trial and reject its resignation. What's waiting for Paraguay? Esteban Caballero, a political scientist and researcher associated with FLACSO, explains this.
The decision comes after legislators from the opposition and its own party pushed a political trial to remove it.
Through a video published on his social media, Paraguay's President, Santiago Peña, resigned on November 5 following the opening of a debate in the Chamber of Deputies on a possible political trial for the intervention and closure of Ueno Bank, an entity linked to the president. The Central Bank's measure triggered a financial and political crisis that affected 2.9 million customers with branch closures and access to accounts.
