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Paraguay President Resigns After Ueno Bank Collapse

Paraguayan President Santiago Peña resigned following the collapse of digital lender ueno bank amid regulatory scrutiny and political pressure over public fund management. Authorities are working to transfer customer accounts and investigate the failure.

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A branch of Ueno closes while opposition lawmakers press ahead with efforts to impeach President Santiago Pena, whom they blame for the bank crisis triggered by the collapse of the digital lender, in Asuncion, Paraguay, November 5, 2026. REUTERS/Cesar Olmedo

Paraguay President Santiago Peña resigned on Thursday following the collapse of digital lender ueno, which administered $850M in public funds. The downfall of the prominent commercial bank left 3 million customers temporarily locked out of their accounts. The political crisis erupted after regulatory probes revealed excessive lending to companies linked to the bank's controlling shareholder.