Peña recorded the message at the presidential residence, Mburuvicha Róga, saying at the outset: “I address you today at one of the most difficult moments of my life, and my heart is with Paraguay. I am convinced that our republic must always stand above any person or circumstance.” He added that “history will judge” what is happening, then announced: “I have decided to submit my resignation from the presidency of the republic. I am doing so out of concern for our country's stability and social peace, and because our democratic institutions must be preserved, with full respect for the national Constitution.”
In the rest of the message, Peña apologized, saying: “I also want to apologize to the people if I failed at any moment. It was never my intention to betray the trust placed in me.” He concluded: “Democracy is respected, institutions are protected, and Paraguay stands above our differences.” However, he did not acknowledge responsibility for the crisis, the Associated Press reported.
From Jerusalem to Asunción
Peña opened Paraguay's embassy in Jerusalem on December 12, 2024, in the presence of Israeli Prime Minister Benjamin Netanyahu, fulfilling an election pledge. Paraguay had first moved its embassy to Jerusalem in 2018 under President Horacio Cartes, before the following government moved it back to Tel Aviv months later. Peña is also a close ally of U.S. President Donald Trump. The newspaper Última Hora reported that leaders close to Peña, including Trump and Netanyahu, had not expressed solidarity with him by Thursday evening.
Colorado Party abandons its president
Cartes, who now heads the ruling Colorado Party, determined Peña's fate when he announced the party's support for impeachment proceedings, saying: “We support the political trial of President Santiago Peña in order to return the institutions of the republic to their proper course.” The party has ruled the country for around 70 years, except for the period between 2008 and 2012.
The charges include conflicts of interest, misuse of pension funds and obstructing institutional oversight. Local press reports said Peña retained stakes in the parent company, Oino Holding, through 2025, while the bank held around $800 million in public funds, including nearly $355 million from the pension fund of the Social Security Institute. The central bank took control of the bank on November 3, and eight senior executives, including founder Miguel Vázquez, were arrested.
Transition remains unresolved
The resignation will not take effect without congressional approval, but the joint session lost quorum during the vote after lawmakers, most of them from the Colorado Party, walked out, according to Última Hora and Hoy, allowing the impeachment proceedings to continue. The opposition says accepting the resignation would give Peña a permanent seat in the Senate with immunity, a privilege guaranteed by the Constitution to former presidents unless they are convicted in a political trial.
Vice President Pedro Alliana is expected to assume the presidency until August 2028, while the ruling party proposed Senator Antonio Barrios for the vice presidency. However, Alliana had not taken the oath of office by Thursday evening, and the public prosecutor's office has opened an investigation into complaints involving both him and Peña.
Video: Santiago Peña / X. Photos: Taiwan Presidential Office, Wikimedia Commons
