Paraguayan President Santiago Peña announced his resignation on Nov. 5, 2026, as the Chamber of Deputies approved opening impeachment proceedings against him. (Foto: Instagram)
Paraguayan President Santiago Peña announced Thursday, Nov. 5, 2026, that he would resign as an impeachment effort against him advanced in Congress. After the announcement, opposition figures questioned whether Peña had fled to Argentina.
A Milei government ally denied that Peña was in Argentina, according to La Nación. Official sources at Argentina’s presidential palace, the Casa Rosada, told the newspaper: “We have no record of him having been in Argentina.”
Peña’s resignation comes amid a political and banking crisis that culminated in the dissolution of Banco Ueno, Paraguay’s largest digital bank.
Despite the resignation announcement, Paraguay’s Chamber of Deputies approved opening impeachment proceedings against Peña on Thursday. The case now goes to the Senate. Congress must still decide whether to accept Peña’s resignation, which he is expected to submit formally to the legislature.
