Demonstrators protest near the Paraguayan Congress following an extraordinary session by lawmakers to debate President Santiago Pena’s resignation and to consider impeachment proceedings against him, who the Opposition blame for the crisis triggered by the collapse of the digital lender ueno, which left millions of customers unable to access their accounts, in Asuncion, Paraguay, November 5, 2026.
| Photo Credit: Reuters
Paraguayan President Santiago Pena, who is facing impeachment proceedings following a banking scandal that has affected millions of people, requested three extra days to prepare on Friday (November 6, 2026).
“I have requested a 72-hour extension to prepare my defense,” Mr. Pena wrote on X, adding that he had been served with a 15-page indictment with around 300 pages of appendices the evening before. “This is not due process,” he added.”
The Senate, which is in charge of the impeachment proceedings, was meeting on Friday to examine Mr. Pena’s request, Senate President Basilio Nunez told reporters. Mr. Pena tendered his resignation on Thursday (November 5, 2026), but Congress put his resignation on hold while the impeachment process moves forward.
The crisis erupted on Tuesday (November 3, 2026), when the Central Bank moved to take control of Ueno Bank and freeze the accounts of around three million customers, nearly half the country’s population. Mr. Pena, a former Finance Minister who took office in 2023, had held a stake in a group that controlled the bank but sold his shares in 2025.
The scandal escalated within days, prompting the resignation of the central bank President and the arrest of eight bank executives. Thousands of people took to the streets for a third consecutive night on Thursday (November 5, 2026), protesting in the capital Asuncion and other cities.
Published – November 06, 2026 07:40 pm IST
