Thousands Protest Paraguay Banking Crisis as Peña Faces Impeachment Pressure

Thousands of people have protested in Paraguay over a banking scandal, calling for President Santiago Peña to face impeachment proceedings as anger grows over a financial crisis affecting millions of bank customers.

Demonstrators gathered in public squares carrying placards calling for justice and accountability. The protests took place amid a wider institutional and financial crisis, with the reported loss of access to savings becoming a central source of public anger.

The crisis reportedly left three million bank customers frozen out of their savings. The specific details of the banking scandal and the amount of money involved were not provided in the available report.

Protests target political leadership

Signs and graffiti at the demonstrations called on Paraguay’s political leaders to step down. Protesters also displayed an effigy of Peña, while an image of the president was set on fire.

Demonstrators chanted slogans demanding a political trial. One unnamed protester argued that accepting Peña’s departure would prevent him from being held accountable and said the proceedings should continue.

Another protest display featured a Paraguayan football shirt bearing the Ueno Bank logo. The bank’s name had been crossed out, in a protest over the freezing of customers’ funds.

Police monitored the gatherings. The available information does not identify the city or cities where the demonstrations took place.

Resignation placed on hold

According to the supplied report, Peña tendered his resignation as the political pressure intensified. Congress put the resignation on hold while impeachment proceedings moved forward, leaving him temporarily in office.

The report said that resignation would give Peña a seat as senator for life and immunity. Protesters opposed that outcome, arguing that he should remain subject to accountability through the impeachment process.

The report did not provide a timeline for the resignation or the proceedings, nor did it include a response from Peña or an explanation from Congress for its decision.

The demonstrations reflect mounting public pressure over the reported banking crisis and the political consequences surrounding Peña’s position. Protesters have continued to demand that the proceedings proceed rather than allow the president to leave office through resignation.