# Paraguay’s president quits after millions of people’s savings frozen in bank crisis

- Source: Guardian World
- Published: 2026-11-05T18:48:07+00:00
- Category: World
- Original: https://www.theguardian.com/world/2026/nov/05/paraguay-president-santiago-pena-resigns
- Canonical: https://groundlevelnews.com/story/paraguay-s-president-quits-after-millions-of-people-s-savings-frozen-i-fa785f/

Santiago Peña’s rightwing administration had authorised Ueno Bank to drastically expand operations before collapse Paraguay’s rightwing president, Santiago Peña, resigned on Thursday after a political and financial crisis collapsed the South American country’s banking system in recent days. At the centre of the crisis is Ueno Bank, which in just a few years under Peña went from an obscure digital

_Ground Level News shows a short summary only; the full article and all rights belong to Guardian World._