Political turmoil in Paraguay as President Peña exits over financial scandal

Last updated: November 06, 2026 | 04:20

Executives of Ueno Bank, taken over by Paraguay's central bank amid a solvency crisis, arrive in custody at the anti-corruption prosecutor's office in Asuncion, Paraguay, Wednesday, Nov. 4, 2026 (AP Photo/Jorge Saenz)

ASUNCIÓN, Paraguay — Paraguay President Santiago Peña resigned Thursday, days after the collapse of Paraguay’s central bank seized Ueno Bank.

Peña announced his resignation in a video posted to X, saying he was stepping down to preserve the country’s stability and democratic institutions.

“I have made the decision to submit my resignation as president of the republic,” he said.

“I do so thinking of the stability of our country, social peace and the need to preserve our democratic institutions.”

Peña offered an apology but stopped short of accepting responsibility for the banking crisis.

“I also want to apologiSe to the people if I have failed them at any point,” he said.…