Story perspectives

Venezuela Assembly Removes Ecarri From US Friendship Group

8/23/2026

Summary

Story summary

National Assembly President Jorge Rodríguez removed Deputy Antonio Ecarri from the Venezuela-US Friendship Group.
Rodríguez said Ecarri violated Article 318, which makes the bolívar Venezuela’s sole currency.
Ecarri met U.S. economist Steve Hanke to discuss formal dollarization of Venezuela.
The Assembly board opened an investigation to assess violations and possible sanctions.
The report warned dollarization would end the bolívar and strip the Central Bank of monetary power.

History

Historical Context

In 2008 the Venezuelan government moved to protect the bolívar, reflecting the executive’s authority to set economic policy in presidential systems. Today National Assembly President Jorge Rodríguez expelled Deputy Antonio Ecarri after his meeting with economist Steve Hanke on dollarization, showing continued institutional resistance, with the Central Bank of Venezuela reinforcing the stance against abandoning the bolívar.

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Story summary

National Assembly President Jorge Rodríguez removed Deputy Antonio Ecarri from the Venezuela-US Friendship Group.
Rodríguez said Ecarri violated Article 318, which makes the bolívar Venezuela’s sole currency.
Ecarri met U.S. economist Steve Hanke to discuss formal dollarization of Venezuela.
The Assembly board opened an investigation to assess violations and possible sanctions.
The report warned dollarization would end the bolívar and strip the Central Bank of monetary power.

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