Paraguay's president removed, Alliana sworn in after bank collapse

Paraguay's Congress impeached and removed President Santiago Peña on 6 November and placed him under house arrest over alleged conflicts of interest linked to the collapse of Ueno Bank, where he was a shareholder. Vice President Pedro Alliana, 52, was sworn in as the country's new president the same day. Ueno Bank, Paraguay's fifth-largest lender, failed after regulators found it lacked sufficient collateral to cover its loans; it served roughly three million customers and held 800 million dollars in public pension funds.

← See the full edition