Bank collapse sinks Paraguay's President Santiago Peña, who resigns as customers fear their savings are gone

Paraguay's President Santiago Peña stepped down following a major banking crisis when the central bank took over Ueno Bank, which had a significant customer base, leading to widespread panic about savings. This abrupt collapse has sent shockwaves through the nation's financial system and prompted Peña's resignation, highlighting the fragility of economic stability in the country. The situation underscores the potential ramifications for Paraguay’s economy and the urgent need for effective financial oversight and reform.