Key points
- Paraguay's Senate voted 44-0 on Friday evening to remove President Santiago Peña from office, convicting him of poor performance of his duties over his links to the collapse of digital bank ueno.
- All 44 senators present voted for removal — well above the 30 of 45 needed — and Peña loses the lifetime Senate seat Paraguay's constitution grants former presidents.
- Peña resigned on Thursday, but Congress refused to accept it; the lower house then voted 78-0 to impeach him, and the Senate rejected his request for 72 more hours to prepare his defence by 39 votes to 3.
- Ueno's collapse froze the savings of about three million customers; prosecutors have charged 27 bank officials and associates, and six executives are in pretrial detention.
- Vice-President Pedro Alliana, 52, who survived his own impeachment vote on Thursday, was sworn in as president on Friday evening to complete the term, which runs to 15 August 2028.
Paraguay's Senate has removed President Santiago Peña from office over his connection to the collapse of digital bank ueno, which froze the savings of about three million customers and set off days of street protests in the capital, Asunción. The Senate voted on Friday evening to dismiss him in rapid impeachment proceedings, despite his resignation a day earlier, Reuters reported.
The key figures
| Measure | Figure | Source |
|---|---|---|
| Senate vote to remove Peña | 44-0, with one senator absent | Reuters; Bloomberg Línea; El Trueno |
| Votes needed to remove a president | 30 of the Senate's 45 members | Reuters; La Nación |
| Lower-house vote to impeach Peña | 78-0, on Thursday 5 November | Associated Press; Reuters |
| Senate vote rejecting Peña's request for 72 more hours | 39-3, with two abstentions | Associated Press; elDiarioAR |
| Senate vote admitting the prosecution's evidence | 41 votes | elDiarioAR; El Trueno |
| Ueno customers unable to reach their money | About three million | Reuters |
| Public money held at Ueno, including pension and health funds | $800 million to $850 million | Associated Press |
| Bank officials and associates charged | 27 | Associated Press |
| Bank executives in pretrial detention | Six, including founder Miguel Vázquez | Associated Press |
| Term Vice-President Pedro Alliana would complete | To 15 August 2028 | El Trueno |
A two-day fall
Peña announced his resignation on Thursday, saying he wanted to protect the country's stability, but Congress never accepted it: a joint session called to vote on the resignation lost its quorum after ruling-party lawmakers walked out, the Associated Press reported. Minutes after the resignation announcement, the Chamber of Deputies voted 78-0 to impeach him, with members of his own long-ruling Colorado Party joining the opposition.
The Senate opened the trial on Thursday night and summoned Peña to present his defence on Friday morning. He did not appear, despite having said he would defend himself in person, the Associated Press reported. Instead, his lawyers, Ricardo Preda and Adolfo Ferreiro, argued his case, El Trueno reported. On Friday morning the Senate rejected his request for 72 more hours to prepare his defence, by 39 votes to 3 with two abstentions, and later admitted the prosecution's evidence by 41 votes. The final vote, taken after 18:50 local time, was unanimous among the 44 senators present, El Trueno reported — well above the two-thirds majority of 30 that the constitution requires.
The charges
The lower house's case against Peña rested on five charges linked to the ueno crisis, including conflicts of interest, the diversion of pension funds from the social security institute, the bank exceeding credit limits, and damage to confidence in the financial system, El Trueno reported. Prosecutors accused him of manipulating regulatory supervision and taking part in an institutional cover-up involving the central bank, La Nación reported.
Peña was a shareholder in ueno's holding company until March 2025, the Associated Press reported, and he denies wrongdoing. The bank's collapse left about three million people unable to reach their money, and it held between $800 million and $850 million in public money, including state pension and health funds, the Associated Press reported. Prosecutors have charged 27 bank officials and associates, and a judge has ordered six executives — including founder Miguel Vázquez and bank president Juan Manuel Gustali — held in pretrial detention, the Associated Press reported.
What removal costs Peña
By voting to remove Peña rather than accepting his resignation, lawmakers denied him the lifetime Senate seat, with a voice but no vote, that Paraguay's constitution grants democratically elected former presidents, Bloomberg Línea reported. Removal is not a criminal conviction, and any criminal responsibility will be decided separately by the ordinary courts — but it leaves Peña without parliamentary immunity and exposed to the criminal investigations already under way, La Nación reported.
His fall was sealed when Horacio Cartes, the former president who leads the Colorado Party and was once Peña's political mentor, withdrew his support and backed impeachment, the Associated Press reported. Read more: Paraguay president resigns after bank collapse freezes millions of accounts
What happens next
Vice-President Pedro Alliana, 52, was sworn in as president on Friday evening to complete the term, which runs to 15 August 2028, Reuters reported. Alliana survived his own impeachment vote in the lower house on Thursday, when the motion against him failed by 48 votes to 30, and Senator Antonio Barrios has been put forward to fill the vice-presidency he will leave vacant. A bicameral congressional commission administered Alliana's oath as the Senate's verdict was delivered. Europe Unfolded will report the progress of the criminal cases as they are confirmed.
Updates & corrections
Published 7 November 2026.
Updated 7 November 2026: Pedro Alliana was sworn in as president on Friday evening, after this article was first published. The key points and the "What happens next" section were updated to reflect the swearing-in.
Sources
- Reuters, "Paraguay's Alliana sworn in as president after Peña impeachment", 6 November 2026, on lawmakers swearing in former Vice-President Pedro Alliana to lead the country on Friday, replacing President Santiago Peña after his impeachment: reuters.com
- Reuters, "Paraguay Senate votes to impeach President Peña", 6 November 2026, on the Senate voting on Friday to remove Peña over his connection to the collapse of ueno, which froze access to millions of accounts, and on lawmakers voting for his dismissal despite his resignation a day earlier: reuters.com
- Bloomberg Línea, "Senado de Paraguay destituye al presidente Santiago Peña tras escándalo de Ueno Bank", 6 November 2026, on all 44 senators present voting for removal, on Peña being denied the lifetime Senate seat, and on Alliana assuming the presidency to complete the term to August 2028: bloomberglinea.com
- El Trueno, "El Senado destituye a Santiago Peña por mal desempeño de funciones", 6 November 2026, on the unanimous 44-vote verdict after 18:50 local time, the 41-vote admission of the prosecution's evidence, the defence by lawyers Ricardo Preda and Adolfo Ferreiro, the five charges, the term ending 15 August 2028, and Senator Antonio Barrios being put forward for the vice-presidency: eltrueno.com.py
- elDiarioAR, "Paraguay: el Senado destituyó a Santiago Peña tras el escándalo del banco Ueno", 6 November 2026, on the Senate rejecting the 72-hour extension request by 39 votes to 3 with two abstentions, the 41-vote admission of evidence, Alliana's succession, and the loss of the lifetime Senate seat: eldiarioar.com
- La Nación, "El Senado de Paraguay destituyó al presidente Santiago Peña tras el colapso de Ueno Bank", 6 November 2026, on the 44-vote conviction, the charges of conflicts of interest, manipulated supervision, pension-fund diversion and an institutional cover-up involving the central bank, the loss of the lifetime Senate seat, and Peña's exposure to criminal investigation: lanacion.com.ar
- Associated Press, "Peña skips Senate impeachment trial as Paraguay reels from Ueno bank collapse", 6 November 2026, on Peña failing to appear for his defence despite vowing to defend himself in person, on the Senate voting 39-3 to reject his request for more time, and on the lower house voting 78-0 to impeach him: ottumwacourier.com
- Associated Press, via Decrypt, "Paraguay Protests Over Bank Lockout Intensify as Impeachment Vote Nears", 6 November 2026, on ueno holding $800 million to $850 million in public money, including state pension and health funds: decrypt.co
- Associated Press, via EL7, "27 Officials Charged After Peña Resignation", 5 November 2026, on prosecutors charging 27 bank officials and associates, and on a judge ordering six bank executives — including founder Miguel Vázquez and bank president Juan Manuel Gustali — held in pretrial detention: el7.ai