Paraguayans on Friday rallied in front of Congress calling for the imprisonment of right-wing president, Santiago Peña. Peña announced his resignation amid opposition calls to initiate impeachment proceedings over his alleged responsibility for the closure of Ueno Bank, one of the South American nation’s most important financial institutions. Peña has been embroiled in serious allegations after his government transferred millions of dollars to Ueno Bank (nearly $850 million in public funds, including money from the Social Security system), an institution that announced its closure this week, despite having boasted for years of financial stability and growth in depositors, according to Manuel Gustale, former president of Ueno. Hundreds upon hundreds of depositors at the bank in question have taken to the streets and demanded the return of their money, which was not possible due to the government’s freezing of the accounts. The decision to freeze the accounts comes on top of several allegations of possible links between President Peña and the business group that controls Ueno Bank, which has raised suspicions of conflicts of interest involving Peña and Central Bank President Carlos Carvallo.

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