Pedro Alliana has been sworn in as the new president of Paraguay, after a banking scandal led to the impeachment of his predecessor, Santiago Pena.
On Friday, Alliana, 52, took the oath of office to become the South American country’s 53rd president.
Previously, Alliana had served as vice president under Pena since the start of the latter’s term in 2023.
But Pena’s tenure came to an abrupt end earlier in the day, after 44 of Paraguay’s senators voted to remove him from office. One senator in the 45-member chamber abstained.
“I take my leave with gratitude, while fully acknowledging the anguish of those who are currently awaiting answers,” Pena wrote on social media on Friday afternoon.
The impeachment marked a rapid fall from power for Pena, a member of the long-governing Colorado Party. His departure coincides this week with the sudden collapse of a prominent lending institution, Ueno Bank.
Questions have arisen about whether the bank was properly regulated by government institutions, and whether Pena himself had conflicts of interest involving the bank.
After Pena’s impeachment, prosecutors ordered him placed under house arrest on suspicion of breach of trust and other crimes.
An arrest warrant was also issued for Carlos Carvallo, the former head of Paraguay’s central bank, which has been accused of failing in its oversight duties. Carvallo resigned earlier this week.
The scandal erupted early on Tuesday, when the central bank announced that Ueno had fallen below the legal standards for solvency, meaning it did not have enough collateral to cover its loans and other ventures.
