Paraguay's President Santiago Peña Steps Down Amid Bank Crisis
Paraguay's President Santiago Peña has stepped down as a banking crisis deepens. Thousands of people gathered outside Congress on Thursday, November 5, 2026, to protest against him. The bank crisis is the central issue behind the protests. Paraguay is a country in South America.
Context
Context: Paraguay is a landlocked South American country, and its president is elected for one five-year term. Bank failures are a serious issue, since they can freeze or wipe out savings for ordinary depositors.
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