- Staff writer, with agencies
Paraguayan President Santiago Pena’s resignation amid a financial crisis in his country would not affect Asuncion’s diplomatic ties or cooperation with Taiwan, the Ministry of Foreign Affairs said yesterday.
Taiwan and Paraguay maintained close cooperation on projects aimed at improving people’s lives, and political developments would not affect bilateral ties or the implementation of those projects, the ministry said.
Taiwan would continue deepening mutually beneficial cooperation to bolster the longstanding relationship between the two democratic allies, it added.
President William Lai, left, and Paraguayan President Santiago Pena attend a welcoming ceremony in Taipei on May 8.Photo: Ann Wang, Reuters
During a visit to Taiwan in May, Pena reaffirmed Paraguay’s diplomatic ties with Taiwan. After winning Paraguay’s presidential election in 2023, he pledged to deepen relations with Taiwan.
Whether Paraguay should maintain diplomatic relations with Taiwan had been a major campaign issue.
Pena announced his resignation on X on Thursday following the collapse of the bank, with the lower house voting to unanimously impeach him moments later.
Both houses declined to accept Pena’s offer to resign, with the Paraguayan Senate instead deciding to press forward with a trial that could result in the president’s removal from office.
Paraguayan Vice President Pedro Alliana was set to succeed him, Reuters reported.
Opposition senators are continuing to demand that Pena be removed from office.
Paraguayan Attorney General Emiliano Rolon Fernandez has ordered three criminal investigations into the Ueno Bank crisis, including allegations involving Pena and other current and former government officials.
Pena said he would cooperate with investigators.
“Whatever the outcome of this process, I will act with responsibility and respect for the Constitution,” he said on X.
Pena, who until last year held a stake in a company linked to Ueno, expressed contrition, but stopped short of accepting responsibility for the turmoil, which has left millions of depositors, retirees and workers scrambling to recoup their frozen savings and unpaid wages.
“I want to apologize to the people if I have failed them at any point,” he said. “It was never my intention to betray the trust they placed in me.”
Pena yesterday requested three extra days to prepare for his impeachment.
He said he had been served with a 15-page indictment with about 300 pages of appendices the evening before, adding: “This is not due process.”