Bank collapse leads Paraguayan president to resign - NHKニュース

Paraguayan President Santiago Pena announced his resignation on Thursday following the collapse of a major financial institution with which he has close ties.

The collapse of digital lender Ueno Bank prompted the Central Bank of Paraguay to begin a liquidation process on Tuesday.

The AP and other media outlets report that Ueno had roughly 3 million customers in Paraguay, a country with a population of just over 6.9 million. The bank's management is said to have close ties to Pena. Efforts to hold the president responsible for the bankruptcy are gaining momentum.

Customers who have been unable to withdraw their deposits have staged protests. Opposition lawmakers have called an extraordinary session to begin the process of filing an impeachment motion in Congress.

In a video message released on social media on Thursday, the president apologized to the people.

Vice President Pedro Alliana is expected to succeed him and try to bring the situation under control.

Paraguay is the only country in South America that maintains diplomatic ties with Taiwan. Pena worked to strengthen bilateral relations.