Paraguay, Pedro Alliana is sworn in as president after the dismissal of Peña
The Senate found Peña guilty of malpractice in connection with the Ueno Bank crisis
Quick Look
Vice President Pedro Alliana was sworn in as the new president of Paraguay after the Senate dismissed Santiago Peña with 44 votes in favor for poor performance of duties, amid the Ueno Bank financial crisis that left nearly three million customers without access to deposits.
AI-generated summary
Why It Matters
The Paraguayan Senate dismissed President Santiago Peña with 44 votes in favor, declaring him guilty of poor performance of his duties in the context of the Ueno Bank financial crisis. Vice President Pedro Alliana, a member of the Colorado Party, has been sworn in and will serve until 2028.
Paraguayan Vice President Pedro Alliana was sworn in as the new President of the Republic, following the dismissal of Santiago Peña by the Senate with 44 votes in favour. The Upper House found Peña guilty of poor performance of his duties in the context of the Ueno Bank financial crisis.
The decision came after the head of state did not appear before the Senate for the impeachment proceedings, despite having announced his desire to exercise his right to defense. His resignation, presented on Thursday, was not accepted by Parliament, which decided to continue with the political judgment.
Alliana, a member of the Colorado Party, will have to complete her presidential mandate until 2028. The crisis exploded after the central bank's intervention in Ueno Bank, which left almost three million customers without immediate access to their deposits.
Meanwhile, the Organization of American States (OAS) has called for the solution to the crisis to take place in compliance with the Constitution, the rule of law and fundamental guarantees. The first refunds to depositors have also begun, through the Central Bank's Deposit Guarantee Fund.
What to Watch
AI outlook — possibilities, not facts
Initial refunds to depositors will continue through the Central Bank's Deposit Guarantee Fund
Very likely · Within days
Pedro Alliana will complete the presidential mandate until 2028
Very likely · Within years
Open Questions
- What are the specific details of the allegations of malfeasance against Santiago Peña?
- What is the total size of deposits blocked at Ueno Bank?
- What will be the legal consequences for the former president after his removal?
