Paraguay raids ex-president’s home: Why a bank crash brought down Pena

What happened: Paraguayan police raided the home of ousted President Santiago Pena as part of an investigation into the collapse of Ueno Bank. Pena was removed from office by a unanimous Senate vote on Friday. Key numbers: Ueno froze savings of nearly three million customers out of a population of 6.5 million. It held about $850m in public funds by June. Why it matters: The collapse plunged Paraguay into its deepest economic and political crisis in recent years and sparked widespread protests. Vice President Pedro Alliana has been sworn in to serve out the term until August 2028. Coverage: 3 outlets in 24h

Paraguayan police raided the home of ousted President Santiago Pena as part of an investigation into the collapse of Ueno Bank. Pena was removed from office by a unanimous Senate vote on Friday.

The collapse plunged Paraguay into its deepest economic and political crisis in recent years and sparked widespread protests. Vice President Pedro Alliana has been sworn in to serve out the term until August 2028.