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News in English (USA) / 07.11.2026 / 03:00

Political Turmoil in Paraguay Following Bank Collapse

The political landscape in Paraguay has shifted dramatically as President Santiago Peña has been impeached and placed under house arrest amid a banking crisis triggered by the collapse of Ueno Bank. This financial disaster has left millions of citizens with frozen accounts, sparking widespread protests and calls for governmental accountability. Following days of chaos, Vice President Pedro Alliana has been sworn in as the new president. Legal proceedings against the ousted president and former central bank officials are now underway as the country seeks to address the fallout from this institutional crisis.
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