By Zoila Palma: Paraguayan President Santiago Peña announced his resignation on Thursday following a banking scandal that left approximately three million people unable to access their savings after the Central Bank seized control of Ueno Bank.
However, Congress placed his resignation on hold as lawmakers move forward with impeachment proceedings, leaving Peña provisionally in office while the political crisis continues.
Thousands of Paraguayans gathered outside Congress in the capital, Asunción, demanding the return of their money and calling for the president to step down, AFP reports.
Earlier demonstrations were marked by clashes between protesters and police, who deployed tear gas and water cannons to disperse crowds. The crisis intensified after the Central Bank took over Ueno Bank due to what it described as a severe capital shortfall, saying the intervention was necessary to protect depositors and maintain financial stability.
Lawmakers voted unanimously to initiate impeachment proceedings against Peña, accusing him of misconduct and a conflict of interest because of his previous financial ties to the bank.
Although he reportedly sold his shares in the group controlling Ueno last year, opposition lawmakers have questioned his dealings with the institution. P
Peña apologised to the public in a video statement, saying he never intended to betray their trust and that his priority was ensuring depositors could recover their savings. His Interior Minister, Enrique Riera, also resigned on Thursday.
The post International News: Banking scandal in Paraguay affecting millions of depositors appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Paraguayan President Santiago Peña announced his resignation on Thursday following a banking scandal that left approximately three million people unable to access their savings after the Central Bank seized control of Ueno Bank. However, Congress placed his resignation on hold as lawmakers move forward with impeachment proceedings, leaving Peña provisionally in office
The post International News: Banking scandal in Paraguay affecting millions of depositors appeared first on Belize News and Opinion on www.breakingbelizenews.com.