In brief
Paraguay’s opposition senators filed a petition accusing President Santiago Peña of illicit enrichment linked to the collapse of Ueno Bank, which froze the accounts of about 3 million clients. The complaint also names Economy Minister Oscar Lovera and central bank officials. The Chamber of Deputies is now reviewing a motion to impeach Peña for a conflict of interest, while the Central Bank placed Ueno Bank under external management to protect depositors’ funds.
Paraguay’s opposition senators filed a complaint accusing President Santiago Peña of illicit enrichment after the digital bank Ueno Bank collapsed and froze deposits from around 3 million customers. The petition says the bank’s problems stem from actions that benefited Peña and his allies.
The complaint names Economy Minister Oscar Lovera and several top officials at the Central Bank as part of the alleged enrichment scheme. Senators say that Peña’s links to the bank gave him a conflict of interest that allowed money to move into privileged positions.
In the weeks before the filing, the Central Bank put Ueno Bank under external administration to safeguard the frozen funds and prevent further losses. The move was meant to protect the safety of depositors, but critics argue it also highlighted mismanagement that benefited high‑ranking officials.
The Chamber of Deputies is now considering a request to impeach Peña. If the vote passes, the president would be removed from office and a new leader would take his place. The decree would also block Peña from holding public office for a specified period.
The stakes are high for Paraguay’s economy and political stability. A ruling of enrichment could damage public confidence in the government, while an impeachment would shift power balances in the country’s political institutions.
Senators and the prosecutor’s office are reviewing evidence and preparing statements for the impeachment hearing. The outcome will shape Paraguay’s next steps in restoring trust and preventing similar banking crises.
