Paraguay's Senate Acts on Impeachment of President Peña After Ueno Bank Collapse

Paraguay's Senate held an extraordinary session on November 6, 2026, the day its official website published an item headlined "Senado destituye a Santiago Peña por juicio político," which translates as "Senate removes Santiago Peña through impeachment." The Senate's report on the session says it was presided over by Senator Basilio Núñez and was listed for 10:00.

In Paraguay, a "juicio político" is the impeachment procedure, through which the legislature can remove a public official from office. The proceedings follow the failure of Ueno Bank, which Reuters reported on November 4 had been taken over by the central bank after it was found to have breached minimum solvency requirements. Solvency means having enough assets to cover what a bank owes, and the rules set the floor a bank must meet.

The New York Times described Ueno as one of Paraguay's largest banks and reported that it failed during the week of November 6 after regulators concluded it was no longer solvent. The bank's collapse is the event that brought the presidency into the proceedings.

According to Reuters, the impeachment charges against Peña allege conflicts of interest, manipulation of regulatory oversight, and diversion of pension funds. These are allegations, and they have not been established in any proceeding reported so far.

Separately, the New York Post reported that Paraguayan prosecutors announced a criminal investigation into Peña following the collapse of the bank.

Al Jazeera, in its report on the collapse, also reported that Peña faced impeachment proceedings after the failure of Ueno Bank.