Paraguayan President Santiago Pena resigned. The former president had to face impeachment proceedings in the country's Congress, and the impeachment was supported by his own party, after the closing of the Ouano Bank, where the funds of nearly three million depositors were frozen. Below is a quote from Pena's two-minute address to the people of Paraguay: "History will judge and put into proper perspective the events we are experiencing today. I have decided to resign from the position of President of the Republic. I do this with the stability of our country in mind, social peace and the need to preserve our democratic institutions. I do this out of full respect for our national constitution and the institutional and democratic mechanisms we have created as a nation is more important than my role as a nation cannot be persuaded. Paraguayan. Peña, who is also an economist, was a shareholder in the group of companies that owned Oano Bank until March last year. The bank had approximately three million customers and held approximately $850 million in government deposits, including funds belonging to the National Insurance Institute.

Paraguayan President Santiago Pena resigned. The former president had to face impeachment proceedings in the country's Congress, and the impeachment was supported by his own party, after the closing of the Ouano Bank, where the funds of nearly three million depositors were frozen. Below is a quote from Pena's two-minute address to the people of Paraguay: "History will judge and put into proper perspective the events we are experiencing today. I have decided to resign from the position of President of the Republic. I do this with the stability of our country in mind, social peace and the need to preserve our democratic institutions. I do this out of full respect for our national constitution and the institutional and democratic mechanisms we have created as a nation is more important than my role as a nation cannot be persuaded. Paraguayan. Peña, who is also an economist, was a shareholder in the group of companies that owned Oano Bank until March last year. The bank had approximately three million customers and held approximately $850 million in government deposits, including funds belonging to the National Insurance Institute.