Why cant the Philippines create money to pay its credit?

Answer 1

i think Argentina did this a few years back and nearly destroyed their entire economy. because each country can only print money for the amount money it actually has. e.g. if a country is worth $10 billion and prints money that equates to $20 billion, inflation etc will effect the value of the money so it becomes virtually worthless. just take a look at Zimbabwe they have what is known as 'hyper-inflation' and you would need thousands of Zimbabwe dollars to equal just a few US dollars