Date
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The United Kingdom had a serious balance of payments issue during the transition from war to peace.

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The United Kingdom, long considered an international commerce and industry sector leader, faced a major balance of payments issue at the conclusion of the Second World War. However, it was falling behind countries such as the United States and Germany in industrialization even earlier, resulting in the deterioration of its net foreign investment and positive current balance in the first half of the 1930s. Debts incurred from the United States and Canada during WWII further exacerbated the situation. With assistance from the European Recovery Program, the U.K. was able to take advantage of a necessary grace period that provided the country with time to adjust their balance of payments. This adjustment would be essential to not only the recovery of the United Kingdom but also to world trade.

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Detail from Balance of Payments of the United Kingdom.
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Detail from report entitled Balance of Payments of the United Kingdom.

Resource
Title
Balance of Payments of the United Kingdom
Image
Balance of Payments of the United Kingdom
Description
Document date: July 23, 1948
The report contains an analysis of the United Kingdom's post-war economic conditions, balance of payments, and gold and dollar reserves.
Event
64
Title
Summary Review of the External Debt of the United Kingdom
Image
Summary Review of the External Debt of the United Kingdom
Description
Document date: Nov. 16, 1949
The report discusses chief components of the external funded debt of the United Kingdom including United States credits, Canadian credits, and other debts.
Event
64
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