Belgium had suffered considerable economic losses during the war, which was fought on part of its territory. Aside from the direct damages as a result of warfare, industry nearly came to a standstill under the German occupation, causing mass unemployment, leaving Belgium to pay for the occupation costs. German marks were introduced as means of payment, which led to monetary expansion. It was up to the post-war governments to handle these complications. Financial problems raised most issues, since reconstruction was begun in 1918 on the supposition that Germany would pay for the war damages, which proved not to be the case. The financial burden that had led to monetary instability was only solved as late as 1926. ... : 1914-1918-Online International Encyclopedia of the First World War ...