A post by @NickTimiraos on X.

The collapse of Paraguayan digital lender Ueno less than a week ago triggered a rapid political chain reaction, beginning with the resignation of the central bank governor, a former Ueno executive, and culminating in the impeachment and removal of President Santiago Peña by a unanimous Senate vote after the lower house impeached him unanimously. Lawmakers rejected Peña's initial resignation because accepting it would have granted him immunity, opting instead to remove him through impeachment over his ties to the failed bank, which are under investigation. The episode matters because it shows how quickly the failure of a fast-growing digital lender can metastasize into a central bank leadership vacuum and a full presidential succession crisis in a single week. What to watch next is how the new central bank leadership handles Ueno's resolution and depositor claims, and whether the probes into Peña's ties to the bank expand.