Paraguay’s parliament reportedly rejected President Santiago Peña’s resignation and decided to continue impeachment proceedings following the collapse of Ueno Bank, which allegedly froze funds belonging to approximately three million customers.

Peña announced his resignation on Thursday amid growing protests and the loss of support from influential figures in his governing party.

The president denies allegations of conflicts of interest and irregularities involving the management of public funds.

Paraguay faces an escalating political and financial crisis, with depositors demanding guarantees that they will recover their savings.