Consider the case of Imperial Germany:
First World War officially ends
The First World War will officially end on Sunday, 92 years after the guns fell silent, when Germany pays off the last chunk of reparations imposed on it by the Allies.The final payment of £59.5 million, writes off the crippling debt that was the price for one world war and laid the foundations for another.
Germany was forced to pay the reparations at the Treaty of Versailles in 1919 as compensation to the war-ravaged nations of Belgium and France and to pay the Allies some of the costs of waging what was then the bloodiest conflict in history, leaving nearly ten million soldiers dead.
H/T to Jon, my former virtual landlord, for the link.
