Ousted Paraguay President Peña Under House Arrest Amid Banking Crisis

Former Paraguay President Santiago Peña has been placed under house arrest following his impeachment and removal from office. The action comes after a severe banking crisis, triggered by the collapse of Ueno Bank, left a significant portion of the country's population unable to access their funds. Peña is reportedly being investigated for his role in the events leading up to the financial turmoil.

The impeachment proceedings escalated rapidly after Peña's resignation on Thursday, as public anger grew over the freezing of millions of citizens' savings. Ueno Bank's rapid expansion under Peña's administration, from a small digital entity to a major lender, has raised serious questions about regulatory oversight and the government's handling of the financial sector. The crisis has plunged Paraguay into political instability and exposed deep concerns about financial governance.