Paraguay's ousted President charged with crimes linked to collapse of major bank

Asuncion Prosecutors in Paraguay on Saturday (November 7, 2026) charged recently deposed former President Santiago Peña with two crimes linked to the collapse of a major bank that has jeopardised the savings of hundreds of thousands of account holders and unleashed the nation's biggest political crisis in a decade. Paraguayan President Pena impeached over banking crisis storyline 1 In a press conference on Saturday (November 7), Nancy Salomón, the South American nation's chief prosecutor for corruption and economic crimes, said Mr. Peña would be investigated for the crimes of breach of trust and administration for personal gain.

Mr. Peña's removal marks a major crisis for Paraguay, which returned to democratic rule in 1989. Since then, the nation of six million people has been mostly governed by the conservative Colorado Party, of which Mr.

Peña was a member.