Paraguayan President Santiago Peña resigned on Thursday following the collapse of the prominent Ouano bank with which he had commercial ties, putting him under intense pressure after about half the population was unable to access their bank accounts.
Peña said today in a recorded speech that he is resigning from his position "taking into account the stability of our country, social peace and the need to protect our democratic institutions".
Paraguay's lower house also voted unanimously to impeach her, minutes after he announced his resignation.
The fallout from the Ueno Bank collapse forced the head of Paraguay's central bank to resign on Tuesday, after which eight of the bank's top executives were arrested.
The opposition called for a special meeting today to begin the proceedings to submit an impeachment petition in Congress, at the same time as the protesters' demands for her resignation.
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