Paraguayan President Santiago Peña announced his resignation Thursday, November 5, 2026, as the sudden collapse of digital lender Ueno Bank locked nearly three million customers out of their accounts, including pensions and public funds, and ignited protests outside Congress.

Peña, a conservative Colorado Party figure elected in 2023 and an ally of President Donald Trump, stepped down hours before lawmakers advanced impeachment charges tied to his prior business links to the bank’s ownership group, BBC reported.

In a video message posted to X, Peña stated he was resigning “with the stability of our country, social peace, and the need to preserve our democratic institutions in mind.”

He added: “I want to apologize to the people if at any point I failed. It was never my intention to betray the trust you placed in me.”

He emphasized that “no public office can take precedence over the well-being of Paraguay” and urged protection of depositors, saying behind every account were “years of effort, sacrifices and family plans.”

A formal resignation letter was later delivered to Congress. Minutes after the announcement, Paraguay’s lower house voted to pursue impeachment (reported as 78-0 or unanimous in multiple accounts), while rejecting a parallel motion against Vice President Pedro Alliana, who stands next in line for the presidency.

The Senate process continued, with Peña indicating he would appear to defend himself.

Peña wrote on X:

“I know we are living through hours of concern and uncertainty. I want to speak to you with clarity and composure.

As the impeachment proceedings continue, I will appear and exercise my right to a defense. I will do so with arguments and evidence, with respect for the Constitution and the institutions of the Republic.

Even if they have already made up their minds, I will exercise that right. Not out of personal pride, but because being accountable and providing explanations is also a responsibility to the Paraguayan people.

I will cooperate fully with the competent institutions so that what happened is clarified, responsibilities are determined, and those who have broken the law answer to the courts. I will provide the information requested of me. Citizens deserve to know the truth, without cover-ups and without anyone being above the law.

But I want to make one thing very clear: payment to savers cannot be left pending on what happens to me. The debate over my remaining in office cannot paralyze the solutions that affected families need.

My priority was to push, within the law and in coordination with the responsible institutions, the measures needed for savers to recover their savings. Clarifying the facts and resolving the payments are obligations that must move forward at the same time. One cannot be an excuse to postpone the other.

I ask you to preserve calm and peace. The public’s demands deserve to be heard and addressed with respect, clear information, and concrete action.

My personal fate is not above Paraguay. Whatever the outcome of this process, I will act with responsibility and respect for the Constitution. My commitment is to the truth, to the institutions, and, above all, to Paraguayan families.

May God bless Paraguay.”

Queridos compatriotas:

Sé que estamos viviendo horas de preocupación e incertidumbre. Quiero hablarles con claridad y serenidad.

Ante la continuidad del juicio político, me presentaré y ejerceré mi derecho a la defensa. Lo haré con argumentos y pruebas, con respeto a la Constitución y a las instituciones de la República.

Aun cuando ya hayan adelantado su decisión, voy a ejercer ese derecho. No por una cuestión de orgullo personal, sino porque rendir cuentas y dar explicaciones también es una responsabilidad frente al pueblo paraguayo.

Colaboraré plenamente con las instituciones competentes para que se esclarezca lo ocurrido, se determinen las responsabilidades y quienes hayan infringido la ley respondan ante la Justicia. Aportaré la información que me sea requerida. La ciudadanía merece conocer la verdad, sin encubrimientos y sin que nadie esté por encima de la ley.

Pero quiero dejar algo muy claro: el pago a los ahorristas no puede quedar pendiente de lo que ocurra conmigo. La discusión sobre mi continuidad en el cargo no puede paralizar las soluciones que necesitan las familias afectadas.

Mi prioridad fue impulsar, dentro de la ley y en coordinación con las instituciones responsables, las medidas necesarias para que los ahorristas recuperen sus ahorros. Esclarecer los hechos y resolver los pagos son obligaciones que deben avanzar al mismo tiempo. Una no puede ser excusa para postergar la otra.

Les pido que preservemos la calma y la paz. El reclamo de la ciudadanía merece ser escuchado y atendido con respeto, información clara y acciones concretas.

Mi suerte personal no está por encima del Paraguay. Cualquiera sea el resultado de este proceso, actuaré con responsabilidad y respeto a la Constitución. Mi compromiso es con la verdad, con las instituciones y, por sobre todo, con las familias paraguayas.

Que Dios bendiga al Paraguay.

— Santiago Peña (@SantiPenap) November 5, 2026

The post Trump Ally and Paraguayan President Resigns After Massive Bank Collapse Freezes Savings of Nearly 3 MILLION Customers — Furious Protesters Flood Streets as Lawmakers Move to Impeach Him appeared first on The Gateway Pundit.