# Paraguay Senate Removes President Santiago Peña After Ueno Bank Crisis

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/50589
Published: 2026-11-07T05:04:32.000Z
Updated: 2026-11-07T05:04:32.000Z
Section: Regulation

> Peña submitted his resignation a day earlier; Vice President Pedro Alliana was sworn in to serve the rest of the 2023-2028 term.

Paraguay’s Senate removed President Santiago Peña on Friday, Nov. 6, after convicting him of misconduct in a trial prompted by a Chamber of Deputies filing alleging conflicts tied to Ueno Bank’s parent company.

Peña submitted his resignation Nov. 5, the same day the Chamber of Deputies approved the impeachment case with 78 votes in favor. The Senate proceeded with the trial and voted unanimously among senators present to convict and remove him. Vice President Pedro Alliana was sworn in to serve the remainder of Paraguay’s 2023-2028 term.

The political crisis followed the Central Bank of Paraguay’s Nov. 2 decision to begin resolution proceedings for Ueno after finding its solvency ratio had fallen below half the required minimum. The process suspended the bank’s passive operations and immobilized deposits.

The impeachment filing alleged conflicts of interest involving Peña’s former participation in Ueno’s holding company and public funds held at the bank. Ueno had 2,941,996 customers in June 2026, before resolution proceedings began. Paraguay’s deposit guarantee covers up to 228.3 million guaraníes per depositor, subject to legal conditions.