The President of Paraguay submitted his resignation letter following a banking crisis.
Following the suspension of Ueno Bank's operations, a financial and political crisis arose in the country. Nearly 3 million customers of the bank were left unable to access the funds in their accounts.
Paraguayan President Santiago Peña submitted his resignation following the financial scandal associated with Ueno Bank in the country. This was reported by El País.
In a video message published on social networks, Peña stated that his main goal was to ensure the peace of mind of citizens who deposited money in the bank. He also emphasized that the public must be guaranteed the full return of their funds.
The President submitted his resignation two days after the problems related to the bank arose. Earlier, the Central Bank of Paraguay took control of Ueno Bank's operations because it faced serious problems in making payments and its solvency indicators did not meet requirements.
Following the decision, nearly 3 million customers of the bank had their access to funds in their accounts restricted. This equals almost half of the country's population.
Following the banking crisis, mass protests began in Paraguay. The protesters demanded the resignation of the president. The opposition, meanwhile, submitted a proposal to parliament to initiate impeachment proceedings against Santiago Peña.
On November 5, it was reported that deputies of the ruling party also refused to support the president.
As of November 6, the parliament has not accepted the president's resignation letter. The impeachment process continues, and Peña has stated that he will defend himself.
