Venezuela Dollarization Bill Drafted by US Economist Steve Hanke
15 Articles
15 Articles
Confronted with uncontrollable inflation and the collapse of its currency, Venezuela is studying a complete dollarization of its economy. As a member of the Venezuelan National Assembly, US economist Steve Hanke recommends that the bolivar, but also the central bank of Venezuela, be abolished.
The secretary general of the United Socialist Party of Venezuela (PSuv), Diosdado Cabello, rejected the proposal of dollarization of the economy proposed by the deputy of the National Assembly (AN) Antonio Ecarri and said that he was “respectful” of the decision of the directive of the Parliament to sanction it. “We respect the decisions made by the AN; there is a code of behavior. We avoid saying because there are people in this world and we av…
The National Assembly in charge of Jorge Rodríguez removed legislator Antonio Ecarri accusing him of carrying out “irresponsible actions” that violate the country’s national legal system
Venezuela Dollarization Bill Drafted by US Economist Steve Hanke
US economist Steve Hanke has drafted a bill to dollarize Venezuela's economy, replacing the bolívar and closing the central bank. The proposal, however, has no official adoption or government endorsement yet. The post Venezuela Dollarization Bill Drafted by US Economist Steve Hanke appeared first on The Rio Times.
Venezuela could abolish the bolivar and introduce the US dollar. Economist Steve Hanke sees this as the key to inflation.
According to the so-called “Money Doctor”, if the Caribbean country abandons the bolívar and adopts the dollar, it would be the biggest currency exchange since the arrival of the euro. The economist was hired by a prominent Venezuelan leader.
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