Paraguay's President Santiago Pena resigns after ueno collapse and protests
Paraguay's President Santiago Pena has resigned following the collapse of digital lender ueno.
The meltdown left millions unable to access their money and sparked protests as demonstrators took to the streets demanding his ouster.
In his video message, Pena said he was stepping aside with "the stability of our country, social peace, and the need to preserve our democratic institutions" in mind.
Pedro Alliana to assume Paraguay presidency
ueno managed about $850 million in public funds before its rapid rise ended in a crash that affected about three million customers.
Lawmakers accused Pena of being too close to the bank and misusing pension funds.
With the central bank forced to step in, Vice President Pedro Alliana is now set to take over as president while Paraguay tries to recover from this financial mess.