Former Paraguayan president backs impeachment against Peña over Ueno Bank crisis

Published at: 05/11/2026 10:31 AM

The former head of state of Paraguay, Horacio Cartes (2013-2018) and current head of the Colorado Party, backed this Thursday the opening of an impeachment trial against President Santiago Peña.

The measure comes in the midst of the crisis triggered by the closure of Ueno Bank, which left about three million customers without access to their accounts, Sputnik reported.

In a statement, the political leader justified his position by pointing out the need to restore the country's institutional order. “We accompany the impeachment of the President of the Republic, Santiago Peña, in order to redirect the institutionality of the Republic,” said Cartes, who also warned that he will not support the irregular management of resources. “We will not be on the side of the sponsorship of public, private and retired funds,” he added.

The crisis originated last Tuesday when the Central Bank of Paraguay (BCP) announced the bank's intervention after detecting a severe deterioration in its capital, with a solvency of less than 50% of the minimum required by law. The situation sparked protests from savers and led 35 deputies to file a formal accusation against Peña and Vice President Pedro Alliana, which prompted the convening of an extraordinary session in the Chamber of Deputies.

In response to the emergency, the Paraguayan president demanded the resignation of Carlos Carvallo as head of the BCP and encouraged the renewal of the regulatory body's authorities. It also enacted a law to anticipate part of the guarantee funds to affected savers, in order to accelerate the return of their deposits. In parallel, the Public Prosecutor's Office charged 27 people linked to the bank for alleged financial crimes, while the Justice evaluates precautionary measures for eight arrested managers on Thursday.

R MAZO EDITORIAL OFFICE