Paraguay’s president, Santiago Peña, has been impeached and removed from office following the collapse of a bank and a wider banking crisis that prevented millions of people from accessing their money.
The crisis placed significant pressure on Peña’s presidency as customers were left unable to reach their funds. The available information identifies the banking collapse as the reason for his ousting.
The development marks a major political consequence of the financial turmoil in Paraguay. Details of the bank involved, the timing of the collapse and the next steps following Peña’s removal were not provided.
