Country in a perpetual state of bankruptcy

[Kurblius]

I get a message that two-province Armenia is bankrupt every year or so. How is this possible? Aren't bankrupt countries given a bankruptcy flag, preventing the event from firing again for a while?

What's remarkable is that one of it's two province is a copper province - in fact it's probably the highest valued copper province in Asia, and it's now late game, so copper is often the highest valued good in the world. The other province is a Center of Trade (!), though a small one that will disappear eventually. Armenia has been in a long war with Georgia, which it is winning, though it's war exhaustion is quite high (24% in it's capital), meaning no taxes. Still, there are countries with way poorer provinces than Armenia that aren't bankrupt. The spamming is mildly annoying, but I don't want to turn off the pop-ups because knowing which countries are bankrupt can be useful.

[Crater122]

I've had that happen a few times. One time England got absolutely smashed and I would get a popup saying they went bankrupt once about every two or three years.

[DDRJake]

It'll be down to them having too many troops. You can't go bankrupt if you don't have outgoings.

[Ramidel]

Aren't bankrupt countries given a bankruptcy flag, preventing the event from firing again for a while?

Nope. You can go bankrupt again when you're bankrupt. However, if it happens, you don't get the inflation reduction from bankruptcy.