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Peña Faces Bank Fallout
Paraguayan President Santiago Peña announced his resignation amid a crisis triggered by the bankruptcy of digital bank Ueno and the freezing of its accounts, which hold the savings of around 3 million citizens—nearly half the country’s population. Despite the resignation announcement, Parliament voted to remove Peña from office and put him on trial. The central bank took over the bank’s management and began liquidation proceedings, while eight of its officials and executives were arrested. Vice President Pedro Alliana is expected to assume the presidency on an interim basis, amid concerns about the fate of depositors’ money, pension funds and public funds.
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