Paraguay's President Resigns Amid Ueno Bank Crisis, Millions Of Depositors In The Streets Update (1100ET) : Under massive pressure from millions in the streets, Paraguay’s President Santiago Peña has signed his resignation letter amid Ueno Bank crisis , local news outlet ABC reported without clarifying how it obtained the information.
The turmoil marks a tectonic shift within the Colorado Party, which propelled Peña to power in 2023. Divided into rival factions, the party has dominated Paraguayan politics for most of the past seven decades. Congress kicked off discussions to impeach the president Thursday morning, when Horacio Cartes, the powerful former president and leader of the ruling Colorado Party, which holds a majority in congress, publicly backed his ouster. ~~~~ Paraguay's central bank seized Ueno Bank on Tuesday, locking an estimated 3 million customers out of their money and setting off street protests and an impeachment bid against President Santiago Peña.