Suryaa International Desk: The Paraguayan Senate has convened an emergency session to continue impeachment proceedings against President Santiago Pena, despite his announcement of resignation. The decision follows the sudden collapse of the digital banking firm Ueno Bank, which has resulted in the freezing of funds belonging to depositors and retirees.
Public protests have erupted across the country, with allegations that the bank's collapse is linked to the President's influence and financial interests. Although Santiago Pena submitted his resignation, the Congress has refused to accept it, prioritizing his removal through impeachment. On Thursday, the Chamber of Deputies unanimously passed an impeachment resolution and forwarded it to the Senate.
Opposition members and representatives of the Colorado Party stated that accepting the resignation could grant the President legal immunity. They argued that removal through impeachment is necessary to allow for potential criminal prosecution in regular courts.
The banking crisis has negatively impacted the Paraguayan economy, causing a sharp decline in the value of the national currency, the Guarani, against the U.S. dollar. Public anger persists despite an apology from the President, particularly as government pension funds and public money were deposited in the bank. Under the national constitution, if the President is removed via impeachment, Vice President Pedro Alliana is expected to assume the presidency.
