In Paraguay, the country's president, Santiago Pena, was ousted as a result of impeachment after a bank collapse that denied access to the accounts of 3 million people. On November 6, Paraguay's Senate impeached President Santiago Pena as a result of the impeachment. All 44 senators present voted for it. Vice President Pedro Eliana became the new head of state, who will hold office until August 2028. Pena previously announced his resignation. In an appeal to X he stated that he made this decision for the sake of the stability of the country, public peace and the preservation of democratic institutions. On November 5, the lower house of the parliament supported the impeachment of the president by 78 votes. The Senate continued the process, since in the event of a normal resignation, Pena would have received senatorial status for life and parliamentary immunity. The cause of the political crisis was the collapse of Oano Bank, one of the largest digital banks in the country. On November 3, the Central Bank of Paraguay took it over after it became clear that the bank had less than half of the minimum amount of equity required for normal operations. The regulator also found problems with financial reporting. As a result, approximately 3 million customers - almost half of the population - temporarily lost access to accounts and payments. The opposition accused Pena of using his position for the benefit of the bank. Until March 2025, the president held a stake in Grupo Vasquez, the holding company that controlled Ueno Bank. In addition, he appointed Carlos Carvalho, who previously led the bank itself, as the head of the central bank. The deputies also said that the authorities allowed large state and pension funds to be placed in Oano, despite problems in its financial situation, and did not ensure adequate control. Pena denied wrongdoing and claimed that he sold his share in the holding in 2025. After the intervention of the Central Bank, depositors took to the streets of the capital Asuncion and other cities, demanding the return of their savings and bringing those responsible to justice.

In Paraguay, the country's president, Santiago Pena, was ousted as a result of impeachment after a bank collapse that denied access to the accounts of 3 million people. On November 6, Paraguay's Senate impeached President Santiago Pena as a result of the impeachment. All 44 senators present voted for it. Vice President Pedro Eliana became the new head of state, who will hold office until August 2028. Pena previously announced his resignation. In an appeal to X he stated that he made this decision for the sake of the stability of the country, public peace and the preservation of democratic institutions. On November 5, the lower house of the parliament supported the impeachment of the president by 78 votes. The Senate continued the process, since in the event of a normal resignation, Pena would have received senatorial status for life and parliamentary immunity. The cause of the political crisis was the collapse of Oano Bank, one of the largest digital banks in the country. On November 3, the Central Bank of Paraguay took it over after it became clear that the bank had less than half of the minimum amount of equity required for normal operations. The regulator also found problems with financial reporting. As a result, approximately 3 million customers - almost half of the population - temporarily lost access to accounts and payments. The opposition accused Pena of using his position for the benefit of the bank. Until March 2025, the president held a stake in Grupo Vasquez, the holding company that controlled Ueno Bank. In addition, he appointed Carlos Carvalho, who previously led the bank itself, as the head of the central bank. The deputies also said that the authorities allowed large state and pension funds to be placed in Oano, despite problems in its financial situation, and did not ensure adequate control. Pena denied wrongdoing and claimed that he sold his share in the holding in 2025. After the intervention of the Central Bank, depositors took to the streets of the capital Asuncion and other cities, demanding the return of their savings and bringing those responsible to justice.