Paraguay's president wanted to resign, but was impeached and placed under house arrest Paraguay's Senate on Friday rejected President Santiago Pena's resignation and impeached him, after which the 47-year-old politician was placed under house arrest. The resignation of the head of state took place against the backdrop of a rapidly developing political and financial crisis caused by the collapse of Oano Bank. The crisis began earlier this week when the central bank intervened in Ueno, a fast-growing digital bank used by nearly half of Paraguay's population. Many of these people did not previously have bank accounts, Reuters notes.

Paraguay's president wanted to resign, but was impeached and placed under house arrest Paraguay's Senate on Friday rejected President Santiago Pena's resignation and impeached him, after which the 47-year-old politician was placed under house arrest. The resignation of the head of state took place against the backdrop of a rapidly developing political and financial crisis caused by the collapse of Oano Bank. The crisis began earlier this week when the central bank intervened in Ueno, a fast-growing digital bank used by nearly half of Paraguay's population. Many of these people did not previously have bank accounts, Reuters notes.