reparations, a levy on a defeated country forcing it to pay some of the war costs of the winning countries. Reparations were levied on the Central Powers after World War I to compensate the Allies for some of their war costs.
Reparations serve to acknowledge the legal obligation of a state, or individual(s) or group, to repair the consequences of violations — either because it directly committed them or it failed to prevent them.
War reparations are compensation payments made after a war by one side to the other. They are intended to cover damage or injury inflicted during a war. Generally, the term refers to money or goods changing hands, but not to the annexation of land.
Then in 1956, Japan and the Philippines signed a Reparations Agreement, in accordance with Article 14 (a) 1 of the Peace Treaty. Under that Agreement, Japan provided the Philippines with services and goods valued at the equivalent of 550 million dollars.
Germany. On Oct. 3, 2010, Germany finally paid off all its debt from World War One.
The states of Germany are not allowed to maintain armed forces of their own because the German Constitution states that matters of defense fall into the sole responsibility of the federal government.
about $5 billion
In addition, he refused to pay income tax. He used his vast wealth—which some estimated was about $5 billion—to amass an extensive art collection, purchase fine furnishings, and acquire various properties.
The US loaned $4.33bn (£2.2bn) to Britain in 1945, while Canada loaned US$1.19 bn (£607m) in 1946, at a rate of 2% annual interest. Upon the final payments, the UK will have paid back a total of $7.5bn (£3.8bn) to the US and US$2 bn (£1bn) to Canada.
The Anglo-American Loan Agreement was a loan made to the United Kingdom by the United States on 15 July 1946, enabling its economy in the Second World War to keep afloat. The loan was negotiated by British economist John Maynard Keynes and American diplomat William L. Clayton.
Debt-to-GDP ratio by Country: The Top 10 Most Indebted Nations
Feb 1, 2022
The British government's debt is owned by a wide variety of investors, most notably pension funds. These funds are on deposit, mainly in the form of Treasury bonds at the Bank of England. The pension funds, therefore, have an asset which has to be offset by a liability, or a debt, of the government.
The 20 countries with the lowest national debt in 2020 in relation to gross domestic product (GDP)
|Characteristic||National debt in relation to GDP|
The federal net debt rose by $253.4 billion in 2020 to reach $942.5 billion or 42.7% of GDP, compared with 29.8% in 2019. Financial assets for the federal government grew 13.2% to $523.5 billion, while liabilities increased by 27.3% to $1,466.0 billion.
Canada's 2017 debt-to-GDP ratio was 89.7%, compared to the United States at 107.8%.
|Published Online||February 7, 2006|
|Last Edited||May 30, 2018|
|Central government debt||August 2021||October 2021|
But a new spending category, referred to as COVID-19 Response Funding, will make up about 7% — or $23 billion — of total health spending. This category includes costs for things like COVID-19 treatment, contact tracing and vaccinations.
|Debt per person||Interest costs per person|
Jun 30, 2021
37 million people
Canada's population grew at almost twice the rate of every other G7 country from 2016 to 2021, rising 5.2% from 2016 to just under 37 million people in 2021 (see textbox Census counts, demographic estimates and census coverage studies).