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Paraguay president steps down as banking crisis sows chaos
ASUNCION: Paraguayan President Santiago Pena will face an impeachment trial after a financial crisis that led the US-allied leader to resign Thursday, after a banking takeover blocked almost half the population from accessing their money. Congress put Pena’s resignation on hold while the impeachment process move forwards, which means he will remain in office provisionally. The Central Bank’s seizure of Pena-linked Ueno Bank two days earlier froze the deposits of some three million people, including pensioners, and sparked angry demonstrations across the country. Thousands of Paraguayans gather...
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