Paraguay President fails to resign, impeachment proceedings begin

China News Service, Beijing, November 6th. Asunción News: The Paraguayan Congress’s resignation vote on President Peña Nieto on the 5th local time was ultimately suspended due to insufficient number of participants. Peña Nieto temporarily remained in office. On the same day, Congress initiated impeachment proceedings against Peña Nieto.

Peña Nieto submitted his resignation on the 5th due to the crisis caused by the seizure of the country's largest digital bank, Banco Weno. His resignation can only take effect after being voted by Congress.

According to reports from Paraguay's "El Pais", the British "Guardian" and CNN, during the voting, members of Peña's Colorado party left the meeting, resulting in a lack of quorum at the meeting and the voting was suspended.

After Pena Nieto announced his resignation, the Paraguayan House of Representatives voted on the 5th to pass an impeachment motion against Peña Nieto and submitted the motion to the Senate. According to reports, the Senate began the impeachment process on the evening of the 5th and is expected to continue on the 6th.

According to Paraguay's constitution, if the president resigns without being impeached, he enjoys the privileges of a lifelong senator; if he is impeached, he loses immunity.

The Central Bank of Paraguay seized Banco Hueno earlier this week. According to the Guardian, millions of customers were unable to withdraw their deposits, bank executives were arrested, and people took to the streets in massive protests.

Pena Nieto will take office as President of Paraguay in August 2023 and will serve until 2028. The Associated Press said that until last year, Peña held a stake in a company linked to Banco Weno.

According to reports, Banco Weno was once a little-known financial company that has grown into one of Paraguay's largest lending institutions in less than five years. (over)