Besides financing it’s own war effort, the UK had been financing it’s allies. By April 1917, the UK was on the brink of exhausting it’s cash and credit. As soon as the US entered the war, it took over the job of financing everyone.
Steve
The Germans had very serious financial problems as well as not being able to feed their starving population. The last gasp Spring offensive captured land but with great losses and to no good purpose as they quickly lost all of it and more.
Wartime food shortages in Germany in the winter of 1916–1917 were terrible. The civilian population called it the “turnip winter,” a bitter nickname, given the indignity of having to eat turnips, normally considered to be food fit only for cattle. Jan 27, 2017
Of course the cattle weren’t around to compete for the turnips as they had been slaughtered to feed the troops.
This once again proves that war is heck though round two was only a bit over 20 years in the future.
Anymouse
Canada’s war effort was financed mainly by borrowing. Between 1913 and 1918, the national debt rose from $463 million to $2.46 billion, an enormous sum at that time. Canada’s economic burden would have been unbearable without huge exports of wheat, timber and munitions. Aug 5, 2013