Paraguayan President Peña submits resignation amid Ueno Bank crisis

Paraguayan President Santiago Peña submitted his resignation on November 5 amid the crisis at Ueno Bank, after the Chamber of Deputies approved an impeachment request against him by 78 votes and sent it to the Senate; parliament disclosed the formal submission of the resignation rather than a completed transfer of presidential powers. The Central Bank of Paraguay said the first round of deposit guarantee payouts covers depositors with balances up to 10 million guaraníes who owe Ueno nothing and hold accounts at other local banks or financial companies, with eligible depositors able to recover their full balances. Following Ueno's takeover, some Bybit sellers quoted USDT at roughly 13% above the official dollar reference rate, a figure reflecting asking prices rather than executed trades. The event matters because it tests Paraguay's deposit insurance framework and the credibility of its banking oversight at the highest level of government. What to watch next is whether the Senate accepts the resignation, how the remaining deposit guarantee payouts proceed, and whether the USDT premium on Bybit narrows as access to dollar liquidity normalizes.