Alternatively, IMF special drawing rights could be used for the purposes of external commitments, until a new global reserve currency has been negotiated.

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Special situation buyers include insurance companies who are matching long term payout commitments on annuities with the interest payments on the Treasuries.

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If the host government were to default on its commitments, investors should be able to seek redress before special tribunals or national courts.

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While Kate becomes used to life as a member of the royal family, joining the Queen for special events, Prince William has been kept busy by his RAF commitments.

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