Can a Pilot hold multiple foreign licenses and practice the privileges of it in each country?
Yes, a pilot can hold multiple licences from different authorities, but it's not about operating in a country. A license from an authority applies to aircraft registered with that authority, wherever that aircraft is in the world. 

An FAA license lets you operate an N registered aircraft anywhere in the world, it does not let you operate a foreign registered aircraft on American soil unless that foreign authority gives permission to do so.