> In December 1940, [...] the British were no longer able to pay for supplies. [...] Lend-Lease [...] supplies it needed to fight Germany, but would not insist

> In December 1940, [...] the British were no longer able to pay for supplies. [...] Lend-Lease [...] supplies it needed to fight Germany, but would not insist upon being paid immediately > Instead, the United States would “lend” the supplies to the British, deferring payment. When payment eventually did take place, the emphasis would not be on payment in dollars. The tensions and instability engendered by inter-allied war debts in the 1920s and 1930s had demonstrated that it was unreasonable to expect that virtually bankrupt European nations would be able to pay for every item they had purchased from the United States. Instead, payment would primarily take the form of a “consideration” granted by Britain to the United States. After many months of negotiation, the United States and Britain agreed, in Article VII of the Lend-Lease agreement they signed, that this consideration would primarily consist of joint action directed towards the creation of a liberalized international economic order in the postwar world.[1] EDIT: Oops - that article refers to postwar loans. The TFA might be referring to non-lend-lease wartime debt. But that might have been refinanced by... It's late. Edit about to expire. Don't know. [1] https://history.state.gov/milestones/1937-1945/lend-lease https://history.state.gov/milestones/1937-1945/lend-lease