# Paraguay Congress Rejects President Peña's Resignation Amid Impeachment President Santiago Peña remains in office as lawmakers pursue impeachment following a major banking collapse. - **Source:** [Premium Times Nigeria](https://www.premiumtimesng.com) - **Published:** 2026-11-06 - **Topic:** [politics](https://brifing.si/c/politics) - **Original article:** - **On Brifing:** https://brifing.si/s/7cc1acbb-bb18-4262-8ade-850e0a106f94 ## Presidential Resignation Attempt Rejected Paraguayan President Santiago Peña announced his resignation on Thursday following a severe national financial crisis. However, the country’s Congress officially rejected his departure, choosing instead to move forward with formal impeachment proceedings. This legislative decision forces the president to remain in office while facing intense scrutiny from both political chambers. ## Unanimous Impeachment Vote Initiated The lower house of the Paraguayan Congress voted 78-0 to initiate impeachment proceedings against President Peña. Simultaneously, the Senate has opened its own inquiry and summoned the president to appear this Friday. This unified legislative action highlights the gravity of the political situation currently unfolding within the country’s highest government institutions. ## Banking System Collapse Trigger The crisis stems from the insolvency of Ueno Bank, the nation's largest lender, which serves approximately 60 percent of the population. The central bank ordered the institution into resolution last Monday, effectively freezing the deposits of 3 million customers. This collapse left thousands of citizens unable to access funds for basic needs. ## Allegations of Misconduct Lawmakers and opposition groups have accused President Peña of misconduct regarding his past ties to the financial sector. Peña was a shareholder in Grupo Vázquez, the conglomerate that purchased Ueno Bank in 2021, until last year. While he vehemently denies these allegations, the public outcry has led to massive street protests nationwide. ## Strategic Immunity Bid Fails By resigning, Peña would have transitioned into a senator for life, a status that grants legal immunity from prosecution to former presidents. Because Congress rejected his resignation, he loses this potential protection. This outcome ensures that he remains vulnerable to the legal consequences of the ongoing impeachment trial and potential future investigations. ## Presidential Defense Strategy Despite the mounting political pressure, President Peña has committed to appearing before the Senate to exercise his right to a defense. He stated on social media that he intends to provide all requested information. He emphasized that citizens deserve to know the truth without cover-ups, asserting that no one is above law. ## Institutional Stability Concerns Peña claimed his initial resignation attempt was intended to protect social peace and democratic institutions during this volatile period. However, the legislative branch has prioritized accountability over a peaceful transition. The current deadlock reflects a deep fracture between the executive branch and the legislature following the total collapse of the banking system. ## Future Legal Implications The outcome of the impeachment trial will determine the president's political future and legal standing. If convicted, the constitutional benefit of lifelong immunity will not apply to him. All eyes are now on the upcoming Senate proceedings, which will serve as a critical test for Paraguay’s judicial and political stability moving forward. ## Sources covering this story - https://www.premiumtimesng.com/foreign/923148-paraguays-president-resigns-but-congress-rejects-his-resignation.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._