Paraguay's Peña is impeached and under house arrest, as the Ueno Bank collapse hits bonds and the guaraní

Update: Paraguay's Senate has impeached President Santiago Peña and he has been placed under house arrest, the BBC reported on Saturday. AP, the New York Times, DW and Al Jazeera ran the same news. This follows our earlier reports, Peña resigns and the Ueno Bank seizure, and covers only what has changed.

What changed

• Removal. The BBC says 44 of 45 senators voted for impeachment and one was absent. Peña had offered to resign on Thursday; the Guardian reports that was a bid to keep the special jurisdiction given to former presidents, and lawmakers stripped it anyway, so he faces the ordinary courts.
• Charges. The BBC lists conflicts of interest, manipulating regulatory oversight, diverting pension funds and a cover-up involving the central bank. Peña denies wrongdoing; his lawyer called the allegations "reckless" and "opportunistic".
• Prosecutors. CBS, citing the Associated Press, says he must stay at a home in Asunción until he appears before prosecutors on Saturday over breach of trust, influence peddling and using public office for personal gain, the most serious of which carry up to 10 years in prison.
• New president. Vice President Pedro Alliana has been sworn in as interim president and, per the BBC, promised depositors "will be fully compensated". The BBC says he serves until 2028.

The market side

CBS reports that Paraguay's bonds "have posted some of the worst losses in emerging markets this week" and that the guaraní has slid against the dollar. We have not seen a published figure for either, so we are not stating one. The same report says the state power company has $21 million in Inter-American Development Bank and Taiwan loans for public works trapped at Ueno, and that a ride-hailing app that relied on the bank shut down, leaving 3,000 drivers without work.

The Guardian adds that businesses reported sales falling by up to 80% this week, that about 32,000 pensioners whose public pension funds were invested in the bank went unpaid, and that media outlets in the same financial group suspended operations.

Who is hit, and what is not settled

The people exposed are ordinary account holders and the small businesses that depend on them: shops, drivers and suppliers paid through Ueno. CBS says deposits are insured up to about $35,000, which the central bank says covers 97% of Ueno's customers, and that payouts began Thursday for balances up to 10 million guaraníes (about $1,500). The central bank calls the collapse an isolated case.

Outlets differ on scale. The BBC says more than half the population lost access to accounts, the Guardian says nearly 3 million people, about 60% of adults, and CBS says nearly half the country's population. We use "about 3 million customers", the figure Ueno itself gave. Nothing we read ties the episode to moves in US stocks, and Paraguay's economy is small, so a direct read-across looks limited.

Sources: BBC News; CBS News with the Associated Press; The Guardian. This is news information, not investment advice.