Jorge Rodríguez Dismisses Antonio Ecarri from Venezuela-U.S. Friendship Group Presidency

Jorge Rodríguez, president of Venezuela's National Assembly, has dismissed Deputy Antonio Ecarri from his leadership of the Venezuela-U.S. Parliamentary Friendship Group. Rodríguez stated that Ecarri's actions were "irresponsible and have violated the legal order that we are obliged to defend." He further detailed that Ecarri allegedly infringed upon the Assembly's internal regulations and the constitution, specifically referencing articles concerning monetary policy and the exclusive role of the Central Bank of Venezuela.

A formal investigation has been initiated by the Assembly's board to determine the extent of Ecarri's alleged transgressions and to decide on appropriate sanctions. Rodríguez vowed not to permit the friendship group to be used "to try to undermine, in a clumsy and spurious way, the constitutional and legal foundations of our Republic."

The conflict ignited after Ecarri announced he was collaborating with U.S. economist Steve Hanke on a proposal to advance formal dollarization in Venezuela. This announcement came after Rodríguez denied that the Parliament had engaged the academic for monetary strategy development. Ecarri clarified that his work with Hanke was a personal initiative as a deputy, aimed at addressing the gap between official and market exchange rates, which he believes harms Venezuelans' income and savings.

Ecarri defended dollarization as a necessary step to stabilize the economy and protect purchasing power, arguing that Venezuela needs a stable currency. He criticized the government's handling of foreign exchange reserves, citing over $6 billion spent on currency exchange tables without resolving the underlying issue. "Venezuela needs a stable currency that protects the salary, savings, and assets of our people," Ecarri asserted, believing formal dollarization would help control inflation and narrow the exchange rate gap.