Economics Asked by Source on June 2, 2021
When Bretton Woods was created and the world went on to the US Dollar standard, what happened to all the national debt’s of all the countries like Japan, Britain, etc?
The Bretton Woods system was a fixed exchange rate regime, but local currencies existed. Debt was unaffected (other than any debt repudiations that may have happened after the end of World War II).
Answered by Brian Romanchuk on June 2, 2021
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