When the supply of money increases, the valuation of the currency decreases because there is a force of supply to increase the quantity of the money without possibly pushing the demand higher. It is an artificial pushing demand without the actual demand.
Now, they start the self-feeding loop to buy their own bonds with higher interest returns to retain investors. It will become a downward spiral that harder to get out as the country because the monetary policy becomes short-term incentives program and harder to weather the uncertainty of the future.
Its currency will become even weaker since the power of spending will erode further if the economy does not get better.
Even if the economy gets better, their growth has to outpace the speed of money printing which is more challenging for a country to chase such crazy change without sacrificing something else, said the environment.
The financial system will never be stable after all. It will become more volatile than cryptocurrencies because the country will madly chase growth to recover their previous spending losses. The investment invovles higher rewards but more risky financial leverage products.