Paraguay's vice president Pedro Alliana took office on Friday after lawmakers impeached Santiago Peña over the Ueno Bank collapse; Peña is under house arrest and faces corruption allegations.
Pedro Alliana was sworn in as Paraguay's president on Friday, 6 November 2026, after lawmakers impeached Santiago Peña over a banking crisis and authorities placed the ousted leader under house arrest in the capital, Asunción, according to Euronews and Reuters. Alliana, 52, had served as vice president for three years. Euronews reports that lawmakers moved to impeach Peña but rejected proceedings against Alliana, and that the new president vowed to tackle the crisis before his term ends in August 2028.
The crisis was triggered by the collapse of Ueno Bank this week, which Euronews says froze the savings of half of the country's adult population. Prosecutors said Peña was awaiting questioning on Saturday over alleged breach of trust, influence peddling and misappropriation of funds, and The New York Times reports that he was charged with using his office to enrich himself after a bank with close ties to his administration went under. These are allegations that have yet to be tested in court. Earlier reports described Peña as having resigned; the reporting by Reuters and Euronews now describes an impeachment and removal from office.
The Reuters video attached to this article is news reporting on the swearing-in of the new president and on the house arrest of his predecessor; it was published on 7 November 2026 and is not archival or promotional material. Alliana is a former national-team basketball player who later led the Colorado Party, and Euronews notes that his once-close relationship with powerful party figure Horacio Cartes broke down before the crisis, after he said on 26 October that loyalty should not be confused with blind obedience. How he handles the frozen savings of ordinary Paraguayans will define the first weeks of his presidency.
