The Fall of Santiago Peña — Impeachment, Pension Misconduct, and the $850M Ueno Bank Collapse
ASUNCIÓN, PARAGUAY — NOVEMBER 2026 — In what is being called the most catastrophic financial and political collapse in Paraguay’s modern history, President Santiago Peña was formally impeached and removed from office by a unanimous Senate vote on Friday, November 6, 2026 . Peña attempted to tender his resignation on Thursday, November 5, in an attempt to secure legal immunity as a lifetime senator. However, Congress overwhelmingly rejected his resignation and pushed forward with impeachment proceedings. He was found guilty of “poor performance of duties” and gross financial misconduct, while the Public Prosecutor’s Office simultaneously filed criminal charges against him. Vice President Pedro Alliana has been sworn in to complete Peña’s term through August 2028. The Spark: The Fall of Ueno Bank The political crisis was directly triggered by the collapse of Ueno Bank , Paraguay’s largest digital lender and a cornerstone of the nation’s tech-forward economic narrative. Key Da...
