The Congress of Paraguay rejected a request by President Santiago Peña — who unsuccessfully attempted to resign the day before — to be given 72 hours to prepare a legal case after Peña was blocked from resigning and forced to face impeachment.
\n\nOne of the most severe political and economic crises in the modern history of the country struck Paraguay this week when the nation’s Central Bank intervened into Ueno Bank, a financial institution with nearly 3 million customers considered one of the largest banks in the country. The Central Bank accused Ueno of taking irresponsible lending actions that had left it at the brink of insolvency, and it froze all bank assets to allow for a thorough review of existing assets and loans. This freezing action has left millions of Paraguayans, including heads of families and retirees, without access to their own money, prompting widespread protests in the capital, Asunción.
\n\nMembers of Congress accused President Peña, one of the world’s most prominent conservative leaders, of having a hand in the demise of Ueno by allegedly pushing the bank to offer loans to friends and family members that did not have proper institutional backing. Peña has denied all wrongdoing, but…
Original source: https://www.breitbart.com/economy/
