Benacian Capital Liquidity Crisis

The Benacian Capital Liquidity Crisis began in the aftermath of the Shiro-Benacian War as capital inflows through investments and revenues proved inadequate to cover the costs of post-war reconstruction, debt servicing, and ongoing elevated defence spending on a significantly reduced tax base.

Club of investors exposure to risk

Cardenas was the Union-State’s largest creditor and one of its most influential economic partners with a significant footprint in infrastructure, mining and other border-region projects. Natopia and Constancia both followed closely behind in second and third place respectively. The Community of Goldfield, within the Raspur Pact, served as the main mechanism via which the Benacian Union sought to use export led revenue generation in order to pay down its steadily accumulating debts.

The Benacian Directorate of the Honourable Company was, by virtue of historical circumstances, uniquely exposed in regards to the sovereign liabilities taken on by the regime in Chryse.