Paraguay’s Senate has voted to impeach and remove President Santiago Peña from office amid a political crisis linked to the collapse of a major financial institution and an ongoing criminal investigation. The Senate voted 44 to one in favour of removing Peña following a fast-tracked impeachment trial. Vice-President Pedro Alliana was subsequently sworn in as the country’s new President. Peña was placed under house arrest shortly after the vote.
The political crisis followed the sudden closure of Ueno Bank, a financial institution with which Peña reportedly had business ties. The collapse left millions of depositors unable to access their savings and triggered a major investigation. Paraguay’s Attorney General has reportedly opened three separate criminal cases involving Peña and several former officials in connection with the financial crisis.
Peña had announced his decision to resign in a video statement a day before the Senate vote. However, the Chamber of Deputies unanimously approved the initiation of impeachment proceedings, accusing him of serious and systematic dereliction of duty. The 44-year-old Peña assumed office in August 2023 for a five-year term. He represented the Colorado Party and was among the youngest presidents in Paraguay’s history.
