Paraguay’s President Removed and Arrested Over Financial Crisis
Regulators seized Ueno Bank just three days earlier, sending shock waves through the financial system. The digital lender had aggressively courted the poor and unbanked with generous supermarket rebates. Ueno customers could no longer withdraw cash, access their savings or use their cards to buy anything. Paraguay's Senate voted to remove Santiago Peña for misconduct in office, making him the second president ousted by impeachment.