All of the former transition economies in Central, Eastern, and Southern Europe (CESE) inherited from the era of central planning traditional defined-benefit pension systems financed on a pay-as-you-go basis. Like many pay-as-you-go public pension systems elsewhere in the world, CESE pension...

Poverty reduction is the overarching objective of the World Bank Group and is reflected in the institution s commitment to the Millennium Development Goals (MDGs). More recently, the twin goals of the institution, eradicating extreme poverty by 2030 and boosting shared prosperity, expressed a...

Management welcomes the Independent Evaluation Group (IEG) report results and performance 2012 of the World Bank group (RAP) and its overall positive assessment of the World Bank group development effectiveness. Management appreciates that the report provides a balanced picture of the World Bank...