Paraguay Congress Impeaches President Over Bank Collapse

Paraguay’s Congress impeached President Santiago Peña after the collapse of Ueno Bank, one of the country’s four systemic banks with nearly 3 million customers. The crisis also led to the arrests of former Central Bank President Carlos Carvallo, who had led the private bank before taking the central bank post. The bank’s failure has shaken confidence in Paraguay’s financial system and drawn scrutiny to the overlap between banking leadership and monetary authority. Investors will watch whether the impeachment process stabilizes the government or deepens uncertainty around the country’s banking sector.