Published Friday, 6 November, 1:30 p.m. ET · Source: Paraguay’s Senate, Presidency decrees, Central Bank of Paraguay
He promised on Thursday that he would appear. On Friday his chair stayed empty.
Paraguay’s Senate, which sits as the judge in his impeachment trial, simply moved on without him. President Santiago Peña, a conservative who has led the country since August 2023, is accused of poor performance of his duties over Ueno Bank, a private lender that failed this week.
Behind him, his inner circle was walking out the door. For US readers, the fight matters because Paraguay is a major soy and beef exporter and a close South American partner of Washington.
A president under trial, a frozen bank and a thinning cabinet make a hard backdrop for investors.
The Senate Did Not Wait
Before the session opened, Peña asked for 72 more hours, saying the 12 hours Congress had given him were not due process. The Senate voted 39 against and told him to come within 30 minutes.
He did not come. By a vote of 41, the senators ruled that he had declined to defend himself and moved on to the evidence.
His lawyers reached the chamber later, shortly after 11 a.m. ET, after the defence stage had closed. The Senate let them speak anyway, once it began weighing the evidence.
The Defence: He Already Quit
The lawyers argued that Peña’s resignation, accepted or not, ends the case. Congress, the two-chamber legislature, did not accept it on Thursday because ruling-party members left and the session lost its quorum, as we reported in our https://www.riotimesonline.com/paraguay-pena-stays-president-senate-trial/.
Adrián Vaesken, one of the deputies acting as prosecutors, said the resignation was meant to win a lifetime Senate seat, which he said amounts to impunity. A Paraguayan president who steps down normally becomes a senator for life, with protection from prosecution.
Three Aides Leave His Side
Cabinet chief Javier Giménez, who runs the civil staff of the presidency, and legal adviser Roberto Moreno resigned, and Peña accepted both by decree on Friday. Interior Minister Enrique Riera had quit a day earlier, as we noted in our https://www.riotimesonline.com/paraguay-ueno-bank-first-savers-payout-2026/.
Carlos Benítez, a former national police commander who was already deputy minister for internal security, is the interim interior minister.
The Bank Behind It All
Paraguay’s central bank began closing Ueno on Tuesday 3 November, after its solvency ratio, a measure of whether a bank can cover its debts, fell below half of the required minimum. Ueno had almost three million clients, nearly half the country’s population.
In four days the story went from a bank closure on Tuesday 3 November to a presidential trial on Friday 6 November. Critics say Ueno took in large sums from public bodies while Peña governed.
Our https://www.riotimesonline.com/paraguay-ueno-bank-protests-impeachment-push/ has the background.
What It Means for US Readers
The likely winners are savers if repayments keep flowing, as the central bank began to promise on Thursday, and exporters if a quick verdict calms politics. The losers are Paraguayan households and any US firm that needs a steady government to sign contracts.
The number to watch is 30. If at least 30 of 45 senators vote to remove Peña, Vice President Pedro Alliana would serve out the term to August 2028; if fewer do, Peña stays with a badly damaged mandate.
What Is Not Known
We do not know when the Senate will vote or how each senator will vote. We have not confirmed whether Peña will appear at a later stage.
It is also unclear whether Congress could still accept his resignation before the verdict. We found no reaction yet from Washington or from financial markets.
More: Paraguay news in English, every day from The Rio Times.
Frequently Asked Questions
Is Santiago Peña still president of Paraguay?
Yes, as of Friday 6 November 2026. Congress did not accept his resignation, and the Senate has not yet voted on removing him.
How many senators must vote to remove Peña?
Thirty of the Senate’s 45 members, or two-thirds. The vote had not been announced when we published on Friday afternoon.
Sources: Senate of Paraguay; Presidency of Paraguay, decrees and statements of Santiago Peña, 5 and 6 November 2026; Central Bank of Paraguay.
This article was produced by The Rio Times’ automated newsroom system. How we use AI ·