
President Pena rejected the allegations in the impeachment file and said his right to a fair trial was violated
AI-generated summary
The Paraguayan Senate decided to continue the impeachment trial of President Santiago Pena. Pena continues his duty after the House of Representatives did not accept Pena's resignation. The impeachment file includes allegations such as protecting Ueno Bank shares and keeping the $ 355 million pension fund in the bank. Ueno Bank was liquidated on November 3 due to financial deterioration.
The Senate General Assembly in the capital Asuncion called on Pena to come to the hall and make his defense within 30 minutes after the request was rejected.
While the session was suspended for a short time after the decision, Pena did not attend the session and sent his lawyers Adolfo Ferreiro and Ricardo Preda to the Senate to make his defense.
In his statement on the social media account of US-based company X, President Pena stated that the 12 hours given to him to prepare his defense were insufficient and argued that this situation violated his "right to a fair trial".
Pena said, "Even though it will be uncomfortable for many political actors, I will reveal my truth in front of all citizens. I will never shy away from my commitment to our people, especially in these difficult times."
While the impeachment process was ongoing, it was reported that Pena continued his duty after his resignation was not accepted by the House of Representatives.
The House refused to consider Pena's resignation as part of impeachment talks.
It was noted that Pena will retain his position as president until the impeachment process in the Senate is completed or the constitutional handover procedures are officially initiated.
It is stated that Article 189 of the Constitution was effective in the House of Representatives' decision to not accept Pena's resignation and continue the impeachment process.
According to the article in question, former democratically elected presidents gain the right to be senators for life after their terms of office expire. However, those found guilty in the impeachment trial cannot benefit from this right.
For this reason, if Pena is found guilty in the impeachment trial, it is aimed that he will lose his right to be a senator for life.
In the impeachment file prepared by opposition MPs about Pena, it was argued that Pena put his commercial interests ahead of state responsibilities and abused office by preserving his shares in the umbrella group of Ueno Bank despite taking over the office in 2023.
The file included allegations that the Social Security Institute (IPS) was privileged by keeping the pension fund of approximately $ 355 million in this bank and that there was irregularity in the appointment of Carlos Carvallo as the President of the Central Bank of Paraguay (BCP) in 2023.
Pena denied the allegations and stated that his priority was to protect the public and that those responsible for the irregularities would be held accountable before the judiciary.
WHAT HAPPENED?
Ueno Bank, one of the country's largest private financial institutions, serving 2.9 million of Paraguay's population of approximately 6.1 million, was intervened on November 3 due to deteriorations in its financial structure.
The Central Bank of Paraguay decided to liquidate the institution after the bank's capital adequacy ratio fell below half of the legal limit.
With the liquidation decision coming into force, bank branches were closed, mobile applications, bank cards and all digital banking transactions were suspended. Many depositors were unable to access the assets in their accounts.
Following the developments, many citizens who could not access their deposits in the bank protested the situation by organizing demonstrations.
Following the liquidation process of Ueno Bank, Paraguay Central Bank President Carlos Carvallo also announced that he resigned from his post.
The Paraguayan Congress decided to hold two separate extraordinary sessions upon the interpellation request for impeachment submitted by opposition deputies and the opposition wing of the ruling Colorado Party.
AI outlook — possibilities, not facts
The outcome of the impeachment trial will become clear and it will be clear whether Pena will lose his right to be a senator for life.
Likely · Within weeks
Ueno Bank's liquidation process will continue and an access solution will be sought for depositors.
Likely · Within weeks

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