Paraguayan President Santiago Peña has asked the Senate for 72 more hours to prepare his defense in an impeachment case linked to the closure of Ueno Bank. (Foto: Instagram)
Paraguayan President Santiago Peña has asked the Senate for 72 additional hours to prepare his defense in the impeachment case against him. The request comes amid a crisis triggered by the closure of Ueno Bank, which affected millions of people. The impeachment process was approved by the Chamber of Deputies even after Peña had sought to resign, and the Senate is scheduled to resume proceedings Friday, Nov. 6.
Peña said he received notice of the charges at 10:15 p.m. Thursday, Nov. 5. The notice included a 15-page accusation and more than 300 pages of attachments, according to his request. He argued that having fewer than 12 hours to prepare a defense would be insufficient under the principles of a democratic state governed by the rule of law. The Senate session was initially scheduled to begin at 10 a.m. Friday.
On Thursday, the Senate heard from seven members of the Chamber of Deputies who presented the allegations against Peña. Among them is an accusation that he favored Grupo Vázquez, the group that controls Ueno Bank. Peña was a shareholder in the group until March 2025. He is also accused of failing to ensure adequate oversight by the Central Bank of Paraguay. Carlos Carvallo, the central bank’s previous president, led the digital bank until 2023.
Other allegations concern the effect of the case on confidence in Paraguay’s financial system and an alleged improper intervention involving the IPS, the agency that administers workers’ retirement and health benefits. Ueno Bank managed nearly 4.5 billion Brazilian reais in public funds, including pension resources. The accusations are part of a broader dispute unfolding as the country deals with the bank’s closure.
Peña, 47, was elected president in April 2023 after defeating opposition candidate Efraín Alegre. He succeeded Mario Abdo Benítez, who, like Peña, is a member of the Colorado Party. The party is a right-wing political force and has been central to Paraguayan politics for decades; it is historically associated with conservative and nationalist positions. Peña belongs to the party’s Cartes movement, linked to former President Horacio Cartes, who backed his candidacy.
