Santiago Pena faces impeachment after central bank seizes Ueno Bank
Paraguay's President Santiago Pena is facing impeachment after the central bank took over Ueno Bank, leaving more than 3 million people locked out of their accounts.
Pena, who used to own shares in the group that controlled Ueno Bank and sold them last year, is accused of misconduct and a conflict of interest.
Lawmakers will vote Thursday on whether to move forward with impeachment.
Paraguay protests over bank seizure
The sudden bank seizure triggered protests nationwide, with many frustrated account holders, especially pensioners, demanding access to their savings.
To calm things down, Pena has enacted a law to help people get their money back faster.
Meanwhile, the central bank chief resigned at Pena's request and arrest warrants have been issued for eight top Ueno Bank executives as Paraguay tries to restore trust in its banking system.