Paraguay's Senate impeached Peña 44-1 in a day over Ueno Bank's collapse

Paraguay's Senate voted 44-1 on Friday, November 6, 2026, to impeach President Santiago Peña, finding him guilty of poor performance in his duties over the collapse of Ueno Bank, a digital lender to which he had business links. Senate President Basilio Núñez declared the verdict after 44 of 45 senators voted in favor, with one lawmaker absent.

Minutes later, Peña was placed under house arrest. Vice President Pedro Alliana was sworn in as president shortly after.

The crisis began when Paraguay's central bank ordered Ueno Bank into resolution after its solvency ratio fell below half the 12% regulatory minimum. The move froze accounts for nearly 3 million Paraguayans, about 60% of the adult population.

Peña had resigned the day before his impeachment, reportedly seeking to retain parliamentary immunity. He had former business ties to Grupo Vázquez, the conglomerate that controls Ueno Bank, remaining a business partner until March 2025.

Alliana promised to compensate depositors affected by the collapse, saying those going through a difficult time as a result of the financial collapse would be fully compensated.

Peña has not been formally charged with a crime. He was impeached on the specific ground of poor performance in his duties and detained pending investigation.

The sequence — impeachment, house arrest, and the swearing-in of a successor within hours — is the fastest presidential removal in recent Latin American memory. It followed a bank failure that left roughly half the country's adults without access to their money.