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What is Bulong Default: Causes and Analysis about?

Bulong defaulted in January 2000 due to a failure to make interest payments and replenish its debt service reserve account. This was caused by both poor business execution and overly optimistic financial assumptions. Operationally, commissioning was delayed and throughput was lower than planned. Financially, nickel price and production volume assumptions were too high. As a result, revenues generated were insufficient to cover operating expenses and debt obligations, leading to default.

Author

Huy Quang Đỗ

Language

EN