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Paraguay’s president out after bank implosion freezes millions of accounts

World·Samantha Schmidt·4 days ago
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#washingtonpost#news#bank#president#santiago
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Democracy Dies in Darkness

Santiago Peña faced rising ire after the collapse of a bank to which he had been connected.

November 5, 2026 at 6:15 p.m. ESTYesterday at 6:15 p.m. EST

Paraguay's President Santiago Peña before a parade during his inauguration in 2023. (Jorge Saenz/AP)

Paraguay’s president, Santiago Peña, resigned Thursday after millions of his country’s citizens lost access to their bank accounts because of the implosion of a digital lender to which he had until recently been tied.