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Even
after Marshall Plan aid ended, the United States continued to provide
economic assistance to other countries. In addition, as the "Cold
War" heated up, US military expenditures abroad rose, particularly
during the country’s involvement in the Korean War (1950-53).
And even more important, US investment abroad grew substantially
after World War II.
The
outflow of US dollars provided liquidity, which fueled the growing
world economy.
IMF
Loans
Egypt's
1956 takeover of the Suez Canal provoked an unsuccessful and costly
joint U.K.-French military operation. The United Kingdom and France
suffered severe financial consequences as a result. They turned
to the IMF, which provided them with its largest financial assistance
to date.
- $262
million to France
- $1.2
billion to the United Kingdom
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