Paraguayan President Santiago Peña announced his resignation on Thursday after a bank linked to him was placed under government control, a move that prevented millions of people from accessing their money.
Protests erupted in the South American country after the Central Bank’s decision on Tuesday to place Ueno Bank under its control, citing a serious capital shortfall.
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Opposition lawmakers filed a motion on Wednesday to initiate impeachment proceedings against Peña over the crisis, citing inappropriate conduct and a conflict of interest.
“I want to apologize to the people if at any time I disappointed them. It was never my intention to betray the trust you placed in me,” the right-wing president said in a video posted on Platform X, through which he announced his resignation.
His priority, he added, is “the peace of mind of the Paraguayan people who entrusted their savings to our financial system.”
Peña held shares in a group that controlled Ueno Bank, which he sold last year.
His own ruling party came out in favor of his removal from office on Thursday, while Congress was debating the motion to impeach him.
The country’s Vice President, Pedro Alianna, has now assumed the presidency.
Source: KYPE
