Pedro Alliana Set to Lead Paraguay Following Banking Crisis
President Santiago Peña resigned amid the Ueno Bank collapse and impeachment proceedings in Congress.
Vice President Pedro Alliana is expected to take charge of the Paraguayan executive branch. The transition follows President Santiago Peña’s announcement of his resignation this Thursday.
Peña’s decision came in the wake of a severe financial crisis triggered by the closure of Ueno Bank. The Central Bank liquidated the institution, which was the country’s largest digital bank, after it reported insufficient reserves.
The bank's collapse affected millions of customers and sparked intense public protests. The Paraguayan Congress chose to move forward with the political trial against the president even after his request to step down.
The Chamber of Deputies rejected the impeachment motion against Alliana, preserving his political career. The Senate must now decide whether to accept Peña’s resignation or continue the removal process.
Alliana has a background as a governor and former president of the Chamber of Deputies. He is a member of the Colorado Party and was elected as Peña’s running mate in 2023.
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