Why Broke Countries Can't Print Their Currency In Large Quantities - Investment - Nairaland
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| Why Broke Countries Can't Print Their Currency In Large Quantities by malikombi(m): 1:30pm On Sep 26, 2023 |
I've always wondered why some countries have to borrow money from IMF and other international organizations when they can easily print their own currencies in very large quantities. What are the restrictions attached to printing money? What are the financial/economic implications of doing so? Is there any international body/organizations regulating this? Financial experts, over to you |
| Re: Why Broke Countries Can't Print Their Currency In Large Quantities by oglalasioux(m): 2:13pm On Sep 26, 2023 |
Assuming Nigeria prints a lot of naira, what are we going to pay for imports with? Naira? There's your answer. We can't produce anything so we import. You pay imports with foreign currency not naira. You borrow foreign currency from IMF. You pay back in foreign currency not naira. Solution is not to print money. Solution is local production. |
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