If it were any other irresponsible Minister of Finance, they'd simply play the game of borrowing new loans to pay off old ones, dragging things out until their term ended, leaving the mess for their successor.
Anyway, given the reputation of the Alpha Kingdom, keeping the game going for a decade or so shouldn't be a problem. Count Francis would most likely retire with accolades.
"Your Excellency the Count, I don't have any good ideas, but I do have one lousy suggestion: just stall for time and wait until the military operations in the Papal State conclude.
Once we receive that unexpected windfall, immediately repay part of the debt—not too much, just ten percent to stabilize creditors' confidence.
Afterward, let's focus on economic recovery!
When everyone has money in their hands, it will naturally circulate through the market. The sluggish commercial tax revenues will recover soon enough.
