Paraguay president resigns, faces arrest after Ueno Bank collapse freezes millions of accounts
Briefing by News4U · First published
The Guardian Business reports that President Santiago Peña resigned on 4 November 2026 and was placed under house arrest after the central bank ordered Ueno Bank into resolution over insolvency, freezing accounts of nearly 3 million Paraguayans, about 60% of the adult population. Peña, who held shares in Ueno Holding until April 2025 and appointed the bank’s former CEO to lead the central bank, faces investigation for alleged favouritism, illicit enrichment, money laundering and influence peddling. Lawmakers stripped him of his senate seat, eight Ueno executives were arrested, and the bank’s media outlets suspended operations, leaving 300 workers and 32,000 pensioners without pay. [1]
Sources
- ‘Very strange, very sad’: Paraguay bank collapse fells a presidency and leaves millions broke
The Guardian Business · · Excerpt