the fiscal consequences of aging will require increasing the retirement age to 65 years, followed by further increases to …

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

financial sector. According to the Financial Sector Assessment Program (FSAP), banks remain exposed to liquidity and credit …

, to raise output and employment significantly while reducing the price level. Additional pension reforms could further … encompassing labor and product markets as well the pension system would substantially improve the outlook for fiscal sustainability … increase employment, boost economic growth, and improve public finances, as could improved expenditure efficiency, thereby …

Austria faces significant population aging. This will increase public spending on pensions, health care, and long … recent pension and labor market reforms. Consequently, to ensure long-term sustainability, pension reform must go further and …

This Selected Issues paper reviews developments during 2001–02 in the Belarusian pension system, and discusses … potential short- and medium-term reforms needed to put pension system finances on a sustainable path. The paper presents a short … overview of demographic trends and developments in Belarus and their impact on the pension system. It discusses the financial …

. Further old-age pension reform is also essential. Structural reforms are needed to preserve competitiveness and enhance medium …