This might be the clearest explanation of modern monetary theory for the layman (like me) that I have seen so far. This is specifically in a developing country context.

Kaboub is an advocate of Modern Monetary Theory (MMT), an approach that views states as the source of money creation through the issuing of currency, and taxation as the destruction of that money supply. In this formulation, states do not use taxes to fund policies but rather create funding through issuing currencies, while taxation is used to curb inflation or disincentivize social practices that are seen as harmful, such as pollution or extreme inequality. MMT has grown increasingly popular among left-leaning politicians in North America and Western Europe, and is beginning to make its way into African political discourse as well.

Rosa Luxemburg Stiftung

Money is a store of value and a means of exchange, I learned in my one or two lectures on the subject in the 1990s. I’ve always wondered if you could separate the two by having one form of money that has an expiration date and one that does not. Of course you can – think of coupons or frequent flyer miles. If you need to stimulate the domestic economy, you can use the one with the expiration date. You would use the other in international trade, for retirement savings, etc. You would have to decide if you would let people pay taxes in the temporary currency. Businesses would have to decide if they are willing to accept the temporary currency, unless you forced them. An exchange rate would probably develop between the two forms of currency, unless you outlawed that. Prices and exchange rates could be volatile. New mutant forms of debt and derivatives would probably arise. Foreigners and corporations would speculate and manipulate unless you tried to stop them. Come to think of it, maybe there is a reason currency is the way it is and the status quo is hard to change.