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Anglo-American loan : ウィキペディア英語版
Anglo-American loan

The Anglo-American Loan Agreement was a post World War II loan made to the United Kingdom by the United States on 15 July 1946, and paid off in 2006.〔 The loan was negotiated by John Maynard Keynes. The loan was for $3.75 billion (US$57 billion in 2015) at a low 2% interest rate; Canada loaned an additional US$1.19 billion.
==Background==

The loan was made primarily to support British overseas expenditure in the immediate post-war years and not to implement the Labour government's welfare reforms. British treasury officials believed they could implement the Labour government's domestic reforms without the loan if Britain withdrew from all major overseas commitments.〔Richard Clarke, ''Anglo-American Collaboration in War and Peace, 1942-1949'' (Oxford, Clarendon Press, 1982).〕 Additionally, Britain's lend-lease balance was written off for $650 million (US$ million in ).
At the start of the war, Britain had spent the money that they did have in normal payments for materiel under the "US cash-and-carry" scheme. Basing rights were also traded for equipment, e.g., the Destroyers for Bases Agreement, but by 1941 Britain was no longer able to finance cash payments and Lend-Lease was introduced.
Large quantities of goods were in Britain or in transit when Washington suddenly and unexpectedly terminated Lend-Lease on 29 August 1945. The British economy had been heavily geared towards war production (around 55% GDP) and had drastically reduced its exports. The UK therefore relied on Lend-Lease imports to obtain essential consumer commodities such as food while it could no longer afford to pay for these items using export profits. The end of lend-lease thus came as a great economic shock. Britain needed to retain some of this equipment in the immediate post war period. As a result, the Anglo-American loan came about. Lend-lease items retained were sold to Britain at the knockdown price of about 10 cents on the dollar giving an initial value of £1,075 million.

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