Paraguayan President Santiago Peña Resigns Amid Major Banking Collapse

Paraguayan President Santiago Peña stepped down on Thursday after a severe political and financial crisis gripped the nation. The turmoil erupted when Ueno Bank collapsed and was ordered into resolution by the central bank over insolvency, freezing the deposits of three million customers and leaving families unable to pay for basic daily expenses. Thousands of citizens took to the streets in protest, and lawmakers unanimously voted to launch impeachment proceedings against Peña. Critics accused the administration of conflicts of interest, alleging improper favouritism in directing significant state and pension funds to the rapidly expanded bank.