📰 NEWS | Venezuela: Opposition Lawmaker Ecarri Proposes Dollarization Plan
Opposition lawmaker Antonio Ecarri has proposed abolishing Venezuela’s bolívar and formally adopting the US dollar, with US economist Steve Hanke working as an adviser on the plan.
The proposal would begin with a fixed USD-bolívar exchange rate before converting bolívar-denominated accounts into dollars. The Central Bank would retain administrative functions but lose the ability to issue money or set interest rates.
The initiative has faced criticism from economists including Asdrúbal Oliveros, José Guerra and former Finance Minister Rodrigo Cabezas, who warned that dollarization could restrict Venezuela’s monetary policy options and increase dependence on the US. National Assembly President Jorge Rodríguez has also opened an investigation into Ecarri and removed him as chair of the Venezuela-US Parliamentary Friendship Group.
Read the full report here 👉🏾 https://venezuelanalysis.com/news/venezuela-opposition-lawmaker-ecarri-proposes-dollarization-plan/
#DollarEconomy #USVenezuelaRelations #Inflation
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1August 28, 2026 114
