Without action, public pension and health systems will not be sustainable over the long-term. Our grandchildren would face unsustainable public debt and sharp tax increases that could stifle growth and reduce their economic well-being, IMF Managing Director Christine Lagarde said at the Massachusetts Institute of Technology, outlining the impact of ageing on growth, financial markets, and fiscal health.

The game changers are health care system reform, lifting up retirement ages, reforms of taxation and public investment, energy pricing, raising female labor participation, or raise labor productivity, among others.

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