ASUNCION — Paraguayan President Santiago Peña resigned on Thursday as calls for his removal intensified following the collapse of digital lender ueno, which left millions of customers unable to access their accounts.
“I do so with the stability of our country, social peace, and the need to preserve our democratic institutions in mind,” Peña said in a recorded video address. He said his priority was to ensure the return of funds, protect depositors and safeguard public resources.
Peña, an ally of US President Donald Trump, stepped down after the opposition called an extraordinary congressional session to begin an impeachment process and as protesters demanded his resignation. He also lost support from members of his own conservative party earlier in the day.
Vice President Pedro Alliana is set to take office as his replacement. Lawmakers accused Peña of conflicts of interest, misuse of pension funds and institutional cover-ups connected to ueno’s collapse.
Paraguay’s central bank intervened in ueno after finding it had breached minimum solvency requirements. The crisis has affected roughly 3 million customers in a country of 6.5 million people, with the lender administering close to $850 million in public funds. Ueno has not issued a public statement.