Paraguay’s governing Colorado Party has backed impeachment proceedings against President Santiago Peña amid a banking crisis involving Banco Ueno. (Foto: Instagram)
Paraguay’s Colorado Party, the governing party of President Santiago Peña, has announced its support for impeaching the president. Party President Horacio Cartes said the party would not side with the theft of public funds.
In a statement, Cartes said the party would not support the theft of public, private or retirees’ funds. He said the party should consider the public and the values it stands for, and that it supported impeachment proceedings against Peña to restore the country’s institutional order.
A group of 35 lawmakers requested Peña’s removal amid a banking crisis following the dissolution of Banco Ueno, described as Paraguay’s largest digital bank. The bank was dissolved on Nov. 3 and was accused of asset manipulation. Peña’s ties to the institution are also at issue.
Opening impeachment proceedings requires 54 votes, or two-thirds of the Chamber of Deputies. If the lower chamber approves the process, it moves to the Senate, where a two-thirds majority is also required to remove the president. An extraordinary session of the Chamber of Deputies was due to begin to consider whether to open proceedings against Peña and Vice President Pedro Alianna.
Chamber President Raúl Latorre told Paraguayan media that most lawmakers support impeaching Peña, but not Alianna. Peña was a shareholder in Ueno Holding, the group that controls the bank, until 2025. The lawmakers seeking impeachment also accuse him of changing conflict-of-interest laws to allow social security funds to be concentrated in Banco Ueno.
