Argentina needs a recession, not dollarization, to tackle the peso crash, an economist says

• A peso crash has fueled calls for Argentina to adopt the dollar as its currency – but such a move could end badly, an economist warns. 
• "Argentina needs fiscal spending cuts and a recession to fix this," Robin Brooks said, referring to the peso's plunge. 
• Argentina's leading presidential candidate has called for the nation to adopt the dollar to combat hyperinflation.  

Argentina needs a recession - not dollarization - to fix its crumbling currency, according to an economist. 

For a while now, the South American nation has been part of a recent international movement to reduce reliance on the dollar for trade and investments – but more recently, a peso crash has prompted calls for the country to actually adopt the greenback as its local currency.