Venezuela Probes Opposition Deputy Over Dollarization Bill
Venezuela's National Assembly has opened an investigation into opposition Deputy Antonio Ecarri for proposing a dollarization bill drafted with US economist Steve Hanke. Ecarri and Hanke defend the bill as constitutional, with Hanke planning to visit. The post Venezuela Probes Opposition Deputy Over Dollarization Bill appeared first on The Rio Times .
The National Assembly in Venezuela is probing opposition deputy Antonio Ecarri over a proposed dollarization bill drafted with US economist Steve Hanke. Ecarri and Hanke publicly defend the bill, claiming it is compatible with the Venezuelan constitution. However, the National Assembly president, Jorge Rodríguez, removed Ecarri from his post as president of the Venezuela-US Parliamentary Friendship Group, accusing him of irresponsible actions that violated national laws.
Rodríguez stated that an investigation into Ecarri's actions is underway to establish the wrongs committed. Ecarri, president of the small Lápiz party and a member of the National Assembly, announced his work on the dollarization proposal in August 2026. He later clarified that his collaboration with Hanke was personal, not official.
The bill, if passed, would abolish the Venezuelan bolívar and make the US dollar the official currency, effectively ending the government's ability to issue money. Despite the investigation, Ecarri and Hanke continue to promote the dollarization bill, with Hanke planning to visit Venezuela to advise on the proposal. The government has not formally endorsed or submitted the bill, viewing it as a personal initiative by Ecarri and Hanke.
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