Paraguayan President Impeached, Arrested Amidst Banking Crisis

Paraguay's President Santiago Peña was impeached by the Senate late Friday night, despite having announced his resignation following the collapse of a major bank. The impeachment, supported by 44 senators present, was aimed at preventing Peña from receiving legal immunity typically granted to former presidents. Shortly after the impeachment, an arrest warrant was issued for him on charges related to the bank's collapse, including breach of trust, abuse of power, and using his public office for personal gain. Peña denies the accusations.

His Vice President, Pedro Alliana, is expected to succeed him and serve out the remainder of his term, which concludes in approximately two years. The bank's collapse has frozen the accounts of roughly three million customers, about half of Paraguay's population, sparking widespread protests. An angry crowd demonstrated near Peña's residence as police arrived.

Paraguay is noted for its strong support of Israel. Peña, who previously addressed the Knesset, moved his country's embassy to Jerusalem in December 2024, strengthening bilateral relations.