Paraguay's President Santiago Peña has resigned following the collapse of Ueno Bank, ABC News reports, carrying an Associated Press alert. The announcement came as he faced impeachment, after his own Colorado Party turned against him.
The digital lender, which claimed more than 60% of Paraguayan adults as customers, was seized by the central bank this week, its executives were detained and protesters clashed with riot police. On Thursday morning both of the ruling party's main factions in the lower house pledged to back impeachment after former president and party leader Horacio Cartes withdrew his support.
Peña, 47, a former International Monetary Fund economist who held a stake in Ueno's holding company until last year, had approved emergency payouts to depositors and named a new central bank chief a day earlier.
Source: ABC News
