London Agreement on German External Debts

By signing the London Agreement on German External Debts on 27 February 1953, the Federal Government under Federal Chancellor Konrad Adenauer (CDU) agree to assume the external debts incurred before the war by the German Reich and Prussia (15 billion German marks). The agreement arranges the Federal Republic of Germany’s repayment obligations vis-à-vis 33 countries. Eastern Bloc nations are excluded from consideration as are foreign claims for reparations against Germany due to the Second World War.

Source: TIAS.com Promissory note for Germans living abroad