The report is structured as follows. In the first section, authors refer to the demographic and labor market context in Montenegro, which indicate the risks and challenges ahead of the pension system in Montenegro. We also discuss some of the myths that are related to the perception of older...

This report focuses on pension system greening and aims to provide data-driven recommendations to orient climate-aligned investment practices. In order to undertake a holistic analysis, this report consists of the following sections: a literature review outlining the need to green the global...

Diversification of the financial sector has been one of the central features of China's recent and rapid economic growth. This book traces the development of China's Trust and Investment Companies (TICs), the most numerous non-bank financial institutions to emerge in China, and their link to the...

There has been tremendous growth worldwide in the mobilization of financial resources outside traditional banking systems. Channeled mainly through capital markets, such rapid financial diversification is posing new challenges for regulators in many emerging markets. This document describes the...

This paper uses international cross-sectional and time-series infrastructure bond risk premium and credit rating history data from the past decade to examine the factors that influence investor risk perceptions and that inflate the cost of borrowing for essential infrastructure. The information...

Canada is home to some of the world's most admired and successful public pension organizations. This was not always the case. As recently as the mid-1980s, many Canadian public pensions were invested largely or entirely in domestic government bonds, were funded primarily on a pay-as-you go...

While Thailand's pension system is typically described as a multipillar pension scheme, its design is highly fragmented and offers adequate coverage only to a small segment of the population, including civil servants and high-income individuals. In its 2018 Article IV report, the IMF highlighted...

This report provides an overview of current pension challenges and opportunities formembers of the Arab Monetary Fund (AMF)1. There is an urgent need to address pensionissues in the region to address fiscal, macroeconomic, sustainability, equity and welfarechallenges. The report sets out...

Haba Haba, which means "bit by bit" in Swahili, is a voluntary pension scheme in Kenya for workers in informal employment and promises to be a scheme through which they can slowly but surely save for their old age. The scheme, administered by the National Social Security Fund (NSSF) was launched...

The report provides recent macroeconomic developments, outlook, and risks that Mongolia faces. The timing of the release of this report is ideal considering that, the Mongolian economy, which was recovering from the COVID-19 on the back of a successful vaccination program and income support,...