Santiago Pena resigns in Paraguay after the Ueno Bank collapse
World
Paraguay's President Santiago Pena has announced his resignation, sharing the news in a social media video on November 5.
He said he was stepping down to "preservar nossas instituicoes democraticas" and "na paz social," as the country faces some seriously tough times.
Pena is known for his ties to President Donald Trump.
Colorado Party backs impeachment moves
The big trigger was the collapse of Ueno Bank, which sent shockwaves through Paraguay's financial system and sparked accusations against Pena about conflicts of interest and misuse of public funds.
Even the governing Colorado Party supported moves to impeach him, making his resignation a major moment for Paraguay's future.