Paraguay is in a state of shock today. The country’s president, Santiago Peña, has been forced out of office. He is now under house arrest while officials look into a major banking scandal.

The trouble started when Ueno Bank collapsed. This means the bank ran out of money and could not pay its customers. Millions of people who had their life savings in that bank suddenly found they could not get their money back. Many families have been left with nothing.

Because of this, the government moved quickly to remove Peña from his job. This process is called impeachment. It is what happens when leaders are accused of doing something very wrong or failing to do their duty.

Reports say the president is being charged in connection with how the bank was run. Investigators are looking at whether he or his team had a hand in the problems that led to the bank going broke.

People across the country are upset and confused. For many, this is a very sad and strange time. The collapse has caused a lot of anger in the streets, as citizens wait to see if they will ever get their money back.

For now, Peña is not allowed to leave his home. Authorities are keeping a close watch on him while they continue to look at evidence regarding the banking failure. We will keep you updated as more news comes in about this developing situation.

Source: BBC