Paraguay President Santiago Peña Resigns After Bank Collapse Crisis

Paraguay's President Santiago Peña has announced his resignation following a political crisis sparked by the collapse of a bank linked to him.

In a video message on social media, Peña said: "I want to apologise to the people if at any point I failed."

The political crisis in Paraguay erupted after financial institution Ueno Bank, which was linked to Peña, entered an insolvency process, which froze all operations.

Peña's resignation came after Paraguay's lower house of congress voted in favour of pursuing an impeachment trial against him.