The Dawes Plan of 1924 allowed Germany’s reparations to be restructured in a way that the payments were actually affordable. That helped stabilise the value of the Reichsmark which improved economic confidence. The plan was accompanied by a major loan from the US which in turn allowed further borrowing of about $3 billion (in 1920s dollars). Diplomatic improvements with France, Italy and the UK also meant they were less belligerent towards Germany and were willing to invest in its economy.
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