Basically the International Permit ( which is what it is called) is a Translation of your Country's License and even so, you still only have the 90 days grace to use it here, after the 90 days you are considered Not on Travel, I know because I have been there on a Spanish Licence
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A foreign national spouse and/or child of a Balikbayan may only be given the said privilege if he/she is traveling with his/her Balikbayan spouse or parent.
But this Balikbayan "privilïge" seems only to apply to periods of stay without a specific visa and does not appear to carry with it all the rights that a Philippine citizen would be given when entering as a Balikbayan. So, whether or not you are allowed to drive on a foreign licence would seem to me to be in the hands off the gods or the whim and fancy of the officer pulling you over.-
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