🚀 go-pugleaf

"foamy" <bomb...@wahs.ac> wrote in message 
news:ni4Ue.446903$5V4.185991@pd7tw3no...
> In article <dfotm9$amn$1$830f...@news.demon.co.uk
>>, "Bogie, The Black and White Spam-Fighting \(ex\) Cat"
>
>>> Good, then they can start paying back Canada for the WWII loans.
>>>
>>
>>Done that - the only debts outstanding are too the US - everyone else has
>>been paid.
>
>
> Sorry, but not a penny has been paid.
>

Hmm, better take that up with the House of Commons - they don't think anyone 
else is owed anything.

http://www.parliament.the-stationery-office.co.uk/pa/cm200102/cmhansrd/vo020228/text/20228w04.htm


Second World War debt

Under a 1945 Agreement the United States Government lent the United Kingdom 
a total of $4,336 million (around �1,075 million at 1945 exchange rates) in 
war loans. These loans were taken out under two facilities: (i) a Line of 
Credit of $3,750 million (around �930 million at 1945 exchange rates); and 
(ii) a Lend-Lease loan facility of $586 million (around �145 million at 1945 
exchange rates), which represented the settlement with the United States for 
Lend-Lease and Reciprocal Aid and for the final settlement of the financial 
claims of each government against the other arising out of the conduct of 
the Second World War.


28 Feb 2002 : Column 1441W


Under the Agreement the loans would be repaid in 50 annual instalments 
commencing in 1950. However the Agreement allowed deferral of annual 
payments of both principal and interest if necessary because of prevailing 
international exchange rate conditions and the level of the United Kingdom's 
foreign currency and gold reserves. The United Kingdom has deferred payments 
on six occasions. Repayment of the war loans to the United States Government 
should therefore be completed on 31 December 2006, subject to the United 
Kingdom not choosing to exercise its option to defer payment.

As at 31 March 2001 principal of $346,287,953 (�243,573,154 at the exchange 
rate on that day) was outstanding on the loans provided by the United States 
Government in 1945. The Government intend to meet its obligations under the 
1945 Agreement by repaying the United States Government in full the amounts 
lend in 1945.

All World War II debts owed to the United Kingdom by other countries have 
either been repaid or settlements have been agreed with the countries 
concerned. Details are provided in the Finance Accounts of the United 
Kingdom and their successor the Supplementary Statements to the Consolidated 
Fund and National Loans Fund Accounts for the financial years 1945-46 to 
1987-88 and the following Command Papers:




  China CM 198;



  Czechoslovakia Cmd 7798 and Cmnds 55, 56 and 2280;



  France Cmnd 6988;



  Netherlands Cmd 7358;



  Poland Cmd 6864 and 7148 and Cmnd 1057;



  Turkey Cmds 6165 and 9120; and



  USSR Cmd 7297.