Peña’s military transfer exposes competing accounts of Paraguay’s bank crisis

Peña’s military transfer exposes competing accounts of Paraguay’s bank crisis
Former Paraguayan president Santiago Peña was moved overnight from house arrest to the Presidential Escort Regiment in Asunción after protests and clashes outside his home. Coverage from Brazil’s left and right alike describes the transfer as a security measure after demonstrators demanded that Peña be sent to a conventional prison rather than remain at his residence.

Left-leaning coverage places the move within a broader social and economic crisis. It says the Ueno Bank’s collapse left nearly 3 million customers unable to access deposits, prompting protests not only at Peña’s residence but also outside the central bank and Ueno’s headquarters. That account links the impeachment to allegations including conflicts of interest, regulatory manipulation and misuse of pension resources, while emphasizing Peña’s past shareholding in the bank’s parent group.

It also presents the political rupture as involving the Colorado Party itself. According to that account, former president Horacio Cartes withdrew support from Peña, and the party declared: “The ANR will not support the theft of public, private and pension funds.” Pedro Alliana, who succeeded Peña, promised full compensation for affected account holders, with priority for the most vulnerable.

Right-leaning reports concentrate more closely on the security operation and judicial timeline: a vehicle convoy left Peña’s Mbocayaty residence shortly before midnight as protesters threw eggs and police faced confrontations. They report that Peña was due to appear before prosecutors over the bank investigation and that the regiment protects senior officials and former presidents.

The accounts differ on elements of the impeachment process. One report says the Senate removed Peña unanimously with 44 votes, while another says the decision followed approval in both legislative chambers, with 44 votes in favor and one abstention. They nevertheless converge on the central sequence: the bank’s insolvency triggered public outrage, Peña’s removal from office and an intensified investigation into his ties to the financial group.

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