Opposition lawmakers in Paraguay on Thursday moved to impeach embattled President Santiago Pena, as the political fallout from the collapse of digital lender Ueno Bank dogs his administration.
Paraguay’s central government seized control of Ueno Bank this week after a technical investigation found unauthorized related-party lending and a major capital shortfall that caused the company’s solvency ratio to fall well below the legally required minimum.
The move left nearly 3 million customers in Paraguay without access to their accounts and sparked major concerns about the country’s financial systems.
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A group of 35 lawmakers on Wednesday submitted articles of impeachment to Congress and demanded floor debate on Thursday.
The movement lacks the two-thirds majority needed for impeachment, so it is unclear whether the measure will go much beyond debate.
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