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What are some strategies for policy and budget reform that administrators might consider?
Unsecured Debts
Debts that are not backed by an underlying asset, meaning lenders have no collateral to claim in case of default.
Maturities
The set dates when the principal amount of a debt instrument, such as a bond or loan, is to be paid back to the lender.
Unfunded Liabilities
Future retirement benefits and other obligations not covered by assets or financial reserves, often discussed in the context of pension plans.
Notes
Short-term or medium-term debt obligations issued by companies or governments.
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