Paraguay's president was impeached after the collapse of Ouano Bank - almost half of the country's population lost access to savings The Senate impeached President Santiago Peña for "neglect of duty". On the evening of November 6, he was arrested and placed under house arrest. He is suspected of breach of trust, influence on commerce and management for personal gain. Vice President Pedro Eliana took office as head of state - he will lead the country until the end of the current president's term, i.e. until August 2028. In his speech after taking the oath of office, Pedro Agliana promised to provide support to citizens affected by the financial crisis. Santiago Peña was allegedly linked to Uano Bank, which held nearly $850 million in government funds, including pension savings. After the bank was blocked, almost 3 million Paraguayans, meaning almost half of the country's population, lost access to funds. The collapse of the bank sparked mass protests across the country.

Paraguay's president was impeached after the collapse of Ouano Bank - almost half of the country's population lost access to savings The Senate impeached President Santiago Peña for "neglect of duty". On the evening of November 6, he was arrested and placed under house arrest. He is suspected of breach of trust, influence on commerce and management for personal gain. Vice President Pedro Eliana took office as head of state - he will lead the country until the end of the current president's term, i.e. until August 2028. In his speech after taking the oath of office, Pedro Agliana promised to provide support to citizens affected by the financial crisis. Santiago Peña was allegedly linked to Uano Bank, which held nearly $850 million in government funds, including pension savings. After the bank was blocked, almost 3 million Paraguayans, meaning almost half of the country's population, lost access to funds. The collapse of the bank sparked mass protests across the country.