What you're describing is identical with simply defaulting on loans and say "we're not going to pay you back".

Inflating away your currency has the same effect with the added downside of destroying your economy simultaneously.

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In fact, the only time I can really see the argument for wanting the ability to inflate away currency to escape debt is if the country is weak and in a precarious enough position that they are legitimately worried that actually formally defaulting would lead to an invasion.