2. The war debt contributed to the Great Depression. The war debt was a major burden on the economies of the countries that owed it. In order to repay their debts, these countries had to raise taxes and cut spending, which led to economic stagnation and unemployment. The Great Depression began in the United States in 1929, but it quickly spread to other countries around the world, including those that owed war debts.
3. The war debt led to political instability. The war debt was a source of resentment and anger in many countries. In some countries, the war debt led to political instability and even revolution. For example, the war debt was a major factor in the rise of Adolf Hitler and the Nazi Party in Germany. Hitler promised to repudiate the war debt, and he did so when he came to power in 1933.
4. The war debt had a lasting impact on the world economy. The war debt contributed to the Great Depression, which was the worst economic crisis in history. The Great Depression had a devastating impact on the world economy, and it took many years for the global economy to recover.