Paraguay's Peña offers resignation amid banking scandal, protests

Celebrations erupted in the streets of the Paraguayan capital Thursday, following news that the country's president had announced his resignation. Queridos compatriotas, Santiago Peña said he was stepping down following the collapse of Bueno Bank, which froze the savings and pensions of some 3 million customers, equivalent to about 60% of the country's entire adult population. I've made the decision to submit my resignation as President of the Republic. I do so with the stability of our country in mind, as well as social peace and the need to preserve our democratic institutions. Just minutes after that announcement, the country's lower house of congress voted 78 to 0 to impeach Peña, who until last year was a shareholder in the company that owned the bank. Lawmakers had accused him of conflicts of interest and misconduct. I'm starting to speak now. The financial crisis, which sent thousands of people into the streets to protest and forced the resignation of the chief of Paraguay's central bank on Tuesday, brings some, but not total satisfaction, to those who had been demanding Peña's ouster. Santiago Peña's resignation is effectively a way out, yes, through the front door, because by resigning he doesn't lose his protections as a senator for life. In other words, he has immunity, and he'll go home like anyone else with nothing to answer for, right? Peña, a close ally of U.S. President Donald Trump, has rejected suggestions of malfeasance and said he hoped that millions of people unable to access their bank accounts would be repaid. But millions are still waiting. Before stepping down, Pena named a new head of the central bank who said it had begun repaying depositors. And Congress has since approved a process to pay back customers of the now defunct bank.