Paraguay’s President Peña Faces Impeachment Over Ueno Bank Collapse

Brief

By Dextape Desk · November 6, 2026

A special session of Paraguay's Chamber of Deputies began Thursday to determine whether President Santiago Peña should face impeachment. The move came two days after the central bank took control of Ueno Bank, one of the country's largest lenders. Ueno had been ordered dissolved on Tuesday, after its solvency measure dropped under half of the required minimum. The freeze also held about $380 million belonging to the Social Security Institute, including savings of roughly 32,000 retirees. On Wednesday, opposition lawmakers and dissident party members filed charges against Peña and Vice President Pedro Alliana, citing poor performance and a possible conflict of interest. The ruling Colorado Party, through former president Horacio Cartes, backed the trial. Peña said an emergency law would protect 98% of depositors. Removal needs two-thirds of the 45 senators.

Why it matters: The case shows how a bank collapse can lock up public and retiree money and spill into national politics, a warning for crypto readers who weigh local lenders.

Summary by Dextape, based on reporting by BeInCrypto. Machine-written from BeInCrypto’s report and checked against it · How Dextape writes