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Paraguay President Ousted
Paraguayan President Santiago Peña stepped down on Thursday amid pressure over the collapse of Ueno Bank. The central bank had taken it over because of a severe capital shortfall, leaving nearly half the country’s population unable to access their accounts. Opposition lawmakers accused Peña of misconduct and conflicts of interest, while authorities arrested eight of the bank’s executives. His resignation requires Senate approval, after which Vice President Pedro Alliana would assume the presidency.
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