All articles tagged with #santiago pena
Paraguay’s central bank seized digital lender Ueno Bank after its solvency ratio fell below legal minimums, leaving millions of customers and hundreds of millions in public funds in limbo. The move has sparked a political crisis, with President Santiago Peña facing impeachment threats and accusations of conflict of interest due to his prior ties to the bank’s owners.
Santiago Pena, Paraguay's new president, faces a challenging balancing act as he takes office, needing to navigate ties with Taiwan that have hurt local farmers' exports to China, pressure from farmers, rising crime, and a U.S. probe into his political mentor. Pena, an economist from the conservative Colorado party, aims to address security concerns, tame prices, ensure access to healthcare, and encourage private enterprise. He also plans to create 500,000 new jobs in five years to boost the country's farm-driven economy. Critics question his political experience and view him as a puppet for his mentor, former President Horacio Cartes.
Santiago Peña, a former finance minister and economist at the IMF, won Paraguay's presidential election with nearly 43% of the vote. Peña's plans, though vague, resonated with voters, and advisers say a full manifesto will be drawn up soon. The distant runner-up was Efraín Alegre, a lawyer and former congressman. The biggest upset was Paraguayo Cubas, a nationalist firebrand who got 23% of the vote and split the opposition. The Colorados will have held power for 75 out of the last 80 years.
The Colorado Party won an overwhelming victory in Paraguay's presidential and congressional elections, with Santiago Peña leading the presidential race with 43% of the vote. The opposition coalition, Pact for a New Paraguay, came in second with 27%. The Colorado Party has essentially ruled Paraguay uninterrupted since 1947. Outgoing President Mario Abdo Benítez congratulated Peña on social media before the official declaration of results. The election had geopolitical implications as Paraguay is the only remaining country in South America to have diplomatic relations with Taiwan.
Santiago Peña of Paraguay's ruling conservative Colorado Party has won the presidential election with over 42% of the vote, beating centre-left challenger Efraín Alegre who had nearly 28%. The Colorado Party has dominated the political scene in the landlocked South American nation for more than 70 years. Paraguayans were also voting in parliamentary elections, with the Colorado Party securing the highest share of the vote.
Santiago Pena, the candidate of Paraguay's conservative Colorado Party, has won the presidential election with 42.7% of the vote, defeating centre-left rival Efrain Alegre. Pena's victory marks the party's return to power after a tightly-contested campaign that threatened to end its seven-decade hold on power. Both candidates were socially conservative, defending strong anti-abortion rights and anti-gay marriage stances in an overwhelmingly Catholic nation. Corruption, poverty, social inequality, and escalating crime were among the key election issues.
Paraguay's long-ruling Colorado Party won a decisive victory in the presidential election, with Santiago Peña leading with 43% of the vote, compared to 27% for the closest challenger, Efraín Alegre. The opposition had hoped to end the party's reign by capitalizing on widespread discontent over high levels of corruption and deficiencies in the health and education systems that worsened during the COVID-19 pandemic. Paraguay has a relatively stable economy, but with high levels of poverty. Outgoing President Mario Abdo Benítez called Peña "president-elect" in a congratulatory message on social media before a winner was officially declared.