From Buenos Aires Times · · 40s
Paraguay President Resigns Amid Banking Crisis
Paraguayan president Santiago Peña resigns after bank linked to him blocks millions from accessing savings.
In brief
Paraguayan president Santiago Peña resigns after bank linked to him blocks millions from accessing savings. Paraguay's president Santiago Peña resigned following a banking scandal that blocked three million depositors from accessing their money. Originally reported by Buenos Aires Times.
President Resigns
Paraguayan President Santiago Peña announced his resignation after Ueno Bank, linked to him, blocked millions from accessing money.
Bank Takeover
Paraguay's central bank took control of Ueno Bank on Tuesday due to severe capital shortfall.
Depositors Affected
Three million depositors, including pensioners, lost access to their money after the bank takeover.
Resignation Announcement
Peña apologized for failing to protect trust, stating it was never his intention to betray depositors.
“I want to apologise to the people if at any point I failed. It was never my intention to betray the trust you placed in me”
The big picture
Paraguay's president Santiago Peña resigned following a banking scandal that blocked three million depositors from accessing their money.
