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Paraguay’s Senate began the impeachment trial of President Santiago Pena on Friday, following the collapse of Ueno Bank earlier in the week.
Pena tendered his resignation on Thursday over his links to the institution, but Congress put his resignation on hold to advance impeachment proceedings instead.
Lawmakers chose this path because an ordinary resignation would automatically grant Pena lifetime Senate status and immunity from prosecution.
The crisis escalated after the Central Bank took control of Ueno on Tuesday over solvency fears, freezing accounts and leaving roughly three million depositors without access to their funds.
In response, members of Pena’s ruling Colorado Party broke ranks to join the opposition in launching the trial.
Pena requested a three-day postponement on Friday to prepare his defence against a 315-page indictment package, but the Senate rejected his plea and opened the hearing immediately.
Mass protests erupted in Asuncion and other cities for a third consecutive night as citizens demanded the return of their savings and criminal accountability for Pena.
Meanwhile, the Attorney General’s Office launched an investigation into Pena’s handling of public funds placed in Ueno, while law enforcement issued arrest warrants for eight bank executives following the resignation of Central Bank President Carlos Carvallo.
