Paraguay’s President Santiago Peña has stepped down following the collapse of a major bank and a vote by the lower house of Congress to pursue an impeachment trial against him.
The decision came after the Chamber of Deputies approved a motion to open an impeachment proceeding, citing the president’s alleged involvement in the banking failure. Peña’s resignation was announced by the presidential office in a brief statement, with no further details released.
Paraguay’s political system allows the lower house to initiate impeachment investigations, which can lead to a trial in the Senate. The motion was passed by a majority vote, signalling broad support for holding the president accountable.
While the specifics of the bank collapse remain unclear, the event has triggered a political crisis in the country. The government has not yet named the institution or outlined the causes of the failure.
Paraguay, a landlocked nation in South America, has faced economic challenges in recent years. The resignation of President Peña marks a significant shift in the country’s leadership amid ongoing concerns about financial stability and governance.
<small>Source: BBC News — read the original story there.</small>
