How a bank collapse in Paraguay brought down the country’s President | Explained - The HinduPublished - November 07, 2026 02:35 pm ISTPeople protest outside the home of Paraguay's ousted President Santiago Pena, who was placed under house arrest on suspicion of breach of trust following his removal by the Senate as prosecutors investigate the collapse of Ueno Bank, in Asuncion, Paraguay, on November 6, 2026. | Photo Credit: APThe story so far: Following impeachment proceedings initiated against the country’s President Santiago Pena, Paraguay’s Senate voted to remove him for misconduct in office and placed him under house arrest on November 7. Subsequently, Vice-President Pedro Alliana was sworn in as interim President.Both Mr. Alliana and Mr. Pena belong to the Colorado Party, the dominant force in Paraguayan politics since the 1940s.Published - November 07, 2026 02:35 pm ISTSign in to unlock member-only benefits!Access 10 free stories every monthSave stories to read laterAccess to comment on every storySign-up/manage your newsletter subscriptions with a single clickGet notified by email for early access to discounts & offers on our products${ ind + 1 } ${ device }Last active - ${ la }