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International Monetary Fund. External Relations Dept.
The September 2007 issue of F&D looks at the growth of cities and the trend toward urbanization. Within the next year, for the first time in history, more than 50 percent of the world's population will be living in urban rather than rural areas. What are the economic implications of this urban revolution? Economists generally agree that urbanization, if handled well, holds great promise for higher growth and a better quality of life. But as the lead article tells us, the flip side is also true: if handled poorly, urbanization could not only impede development but also give rise to slums. Other articles in this series look at poverty as an urban phenomenon in the developing world and the development of megacities and what this means for governance, funding, and the provision of services. Another group of articles discusses the challenge of rebalancing growth in China. 'People in Economics' profiles Harvard economist Robert Barro; 'Country Focus' looks at the challenges facing Mexico, and 'Back to Basics' takes a look at real exchange rates.
International Monetary Fund. Asia and Pacific Dept

International Labour Organization Average level during FY11–17. Human capital Penn World Table 10.0 Average years of schooling for population aged over 25 years. Latest data as of FY19. Working-age population United Nations World Population Prospect 2019 Both historical estimates and medium-variant projections are used. Labor participation rate International Labour Organization Latest data as of FY20. Unemployment rate International Labour Organization Latest data as of FY20. Table A2. Bangladesh: Assumptions

International Monetary Fund. European Dept.

and employment rates by age group and gender. Regarding demographic projections, this paper relies largely on those from the United Nations (2015 Revision of the UN World Population Prospect) . The UN 2015 reflects past demographic trends and country-specific information to inform projections, taking into account all currently available information. Nonetheless, these projections must be taken with caution. Like past projections have been subject to large errors, future realizations of fertility, mortality, and migration rates may differ substantially from the

Ding Ding, Mr. Waikei R Lam, and Mr. Shanaka J Peiris

design scenarios to incorporate the different demographic changes and investment needs across the region. 20. The projected demographic changes in Asia would have different macroeconomic impact across the region, especially on savings and investment. According to the 2010 United Nation’s World Population Prospect, the working age population in emerging Asia is projected to rise by about 25 percent by 2030, continuing its upward trend albeit at a slower rate ( Table 3 ). 7 8 For Asia’s industrialize economies, their working age population is projected to decrease

International Monetary Fund

of World Population Prospect ). In addition, careful work was undertaken to ensure the consistency in the sources and coverage of the policy variables, especially public health spending and private credit. (2) Modeling of fundamentals : Refinements in this area focused on improving the modeling of demographics, better accounting for biases in the measurement of the current account, and better measuring the role of institutional and political risk in saving and investment decisions. Demographics : Changes to the specification addressed concerns related to

Ding Ding, Mr. Waikei R Lam, and Mr. Shanaka J Peiris
There is a role for Asia’s financial sector to play to address the challenges associated with the region’s changing demographics and infrastructure investment needs. Enhancing financial innovation and integration in the region could facilitate intra-regional financial flows and mobilize resources from the aging savers in industrialized Asia to finance infrastructure investment in emerging Asia. Strengthening the financial ties within the region as well as with the global financial markets alongside appropriate prudential frameworks could also help diversify sources of financing and reduce the cost of funding in emerging Asia. Finally, financial deepening could help ease the potential overheating from scaling up infrastructure investment and hence achieve a more balanced growth in the region.
International Monetary Fund. European Dept.

Development Plan are timely, particularly given the fiscal risks that are related to banking system recapitalization and the needed fiscal adjustment to ensure public debt sustainability. B. Demographic Outlook 2. Slow population growth and high longevity will lead to a rapidly ageing society . According to UN projections ( 2017 Revision of the UN World Population Prospect) , San Marino’s population will continue to grow in the coming decades, but at a gradually slower pace. The population will start declining by 2050, in line with trend observed in other EU

International Monetary Fund

dependency ratio over the coming decades. Selected Countries: Old Age Dependency Ratio 1 / Source: UN.: “World Population Prospect: The 2004 Revision Population Database” 1 / The ratio of population aged 65 years and older to population aged 15–64 years. Expenditure on civil service pensions, which government retirees receive in addition to ABSSS pensions, is high and rapidly increasing . Civil service pensions are noncontributory. Combined civil service and ABSSS pensions can reach 117 percent of pre-retirement salaries. Budgetary expenditures on civil

International Monetary Fund. European Dept.
This paper highlights Bulgaria’s state-owned enterprises (SOEs) sector and to assess its performance in a regional perspective. A detailed and rich firm-level dataset of state-owned and private firms was compiled for this note to compare key performance indicators of SOEs to private firms in the same sector and to similar firms in Croatia and Romania for a regional comparison. In some network industries, such as energy, SOEs are heavily loss-making. Large amounts of debt have been piled up notably in the energy and transport sectors which, to the extent that it is classified outside the general government accounts, can pose significant risk to public finances in the form of contingent liabilities if the SOEs run into financial difficulties. SOE profitability and resource allocation efficiency largely lag private firms in the same sectors, even when isolating SOEs engaged in competitive market activities and hence classified outside of general government. Coupled with comparably poor output quality, these challenges have the potential to impair competitiveness and productivity across the economy.
International Monetary Fund
This 2005 Article IV Consultation highlights that data for the first half of 2005 point to a widening fiscal deficit for Antigua and Barbuda. A combination of a reduction in capital spending and some improvement in revenues following a tightening of the concessions regime resulted in a closing of the primary deficit to 1½ percent of GDP in 2004. Revenues have performed well following the reintroduction of the personal income tax. The external current account deficit has narrowed to about 11 percent of GDP, financed by foreign direct investment.