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🇵🇾 Paraguay /Conflict & Security

Deputy Franco attacks Peña’s administration: “The state has suffered a stroke”

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Paraguayan lawmaker Federico “Fredy” Franco accused President Santiago Peña’s government of losing the ability to respond to national problems.
  • Franco criticized Peña over alleged links between the Social Security Institute’s funds and Ueno Bank, which belongs to a group associated with the president’s former business partners.
  • He said lawmakers must set clear priorities in the 2027 national budget as public and state debt increases.

Paraguayan lawmaker Federico “Fredy” Franco said the state had not merely reached intensive care under President Santiago Peña, but had suffered a stroke. He accused the government of losing its ability to respond to the country’s problems.

Speaking during the debate at an extraordinary session of the Chamber of Deputies, Franco urged lawmakers to approve a sound 2027 national budget. He described Peña’s administration as disastrous and said the president had become disconnected from everyday reality.

The state has suffered a stroke under this disastrous administration of a president of the Republic.

· Federico “Fredy” FrancoThe Paraguayan deputy criticized President Santiago Peña’s management during a Chamber of Deputies session.

Franco focused his criticism on the president’s alleged interest in placing more funds from the Social Security Institute, or IPS, in Ueno Bank. The bank forms part of the business group of Peña’s former commercial partners, according to the lawmaker. “Peña was already economy minister and, of course, he is more concerned about what is happening at Ueno Bank, about the IPS-Ueno Bank relationship, than about what is happening in the Republic of Paraguay,” Franco said.

Peña was already economy minister and, of course, he is more concerned about what is happening at Ueno Bank, about the IPS-Ueno Bank relationship, than about what is happening in the Republic of Paraguay.

· Federico “Fredy” FrancoFranco alleged that Peña is more focused on Ueno Bank and IPS funds than on national problems.

The deputy said citizens were buying food on credit to survive while the state was also taking on more debt to sustain spending that could no longer be maintained. He cited Economy Minister Óscar Lovera’s comments at the installation of the bicameral budget commission about raising debt above the fiscal responsibility limit, from 1.5% to 3.9%.

Franco compared the policy to taking out a loan to fill the refrigerator, saying the borrowing was being used for consumption. He called on Congress to decide clearly where the 2027 budget should be directed, warning that Paraguay would otherwise fail to provide quality health care, education, security and justice.

We are taking out a loan to fill our refrigerator, in other words, for consumption.

· Federico “Fredy” FrancoFranco described the proposed rise in public borrowing cited by Economy Minister Óscar Lovera.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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