Britain was still paying off loans for WWII into the mid-eighties.
I think you'll find we still are. The following is from
Hansard in 2002 (towards the bottom of the document):
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.
I always thought it would have been nice if Dubya had cancelled the relatively small oustanding debt as a goodwill gesture for Blair going along with the Iraq war.
Oops! Wrong Planet
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