Pena announced his decision in a video recorded at the presidential residence, saying he was stepping down to safeguard the country’s stability, social peace and democratic institutions, Anadolu Agency reported.
He apologized to Paraguayans for potentially failing to meet their expectations but did not explicitly accept responsibility for the crisis. He said his priority was ensuring that depositors recover their savings and that public funds remain protected.
The resignation came hours after opposition lawmakers formally requested his impeachment, following days of protests in the capital over the Ueno Bank crisis. The development marks a major setback for the governing Colorado Party as authorities seek to contain the financial fallout and restore confidence in the banking system.
Pena had also lost support within his own party. Former President Horacio Cartes, a key Colorado Party figure and political mentor to Pena, backed the impeachment effort, according to ABC Color.
Pena took office in August 2023 for a five-year term. He held shares in Ueno Holding, the bank’s parent company, until 2025, prompting allegations of a conflict of interest.
The central bank intervened in Ueno Bank after its capital fell below the legally required minimum, leaving millions of customers unable to access their accounts.
The lender had nearly 3 million customers in a country with a population of around 6.5 million and managed substantial public funds, including deposits from pension and health funds.
Opposition lawmakers accused the government of conflicts of interest, misuse of pension funds and concealing problems at the bank.
Authorities have begun transferring customer accounts to other banks to protect depositors. Eight Ueno executives have been detained, while 27 bank officials and business associates face charges, ABC Color reported.
