Berlin, December 02: Germany is still paying World War I reparations, more than 90 years after that conflict ended with a peace treaty at Versailles in 1919.
The country is expected to pay off the remaining 56 million euros (84 million dollars) in interest and repayments by October 3, 2010, Germany’s Bild newspaper reported Wednesday, citing a spokesman of the German Finance Agency, which manages the government’s debts and borrowing.
The money is being paid out to creditors holding bonds. Germany had paid off 1.5 billion marks in war debts until 1952 (357 million dollars according to 1952 exchange rates), before repayment was frozen – due to Germany’s loss of territory in World War II – until the reunification between West and East Germany in 1990.
The demands were unfrozen on October 2, 1990, with repayments to be concluded within 20 years.
–Agencies