IMF managing director Christine Lagarde warns of demographic timebomb

The alarm has sounded for ageing workers.

According to the International Monetary Fund, older workers will have to retire much later in the future to help pay for rapidly rising pension costs.

And governments will have to increase consumption taxes, too.

IMF managing director Christine Lagarde has used a speech in the US overnight to warn that governments around the world must start confronting the reality of their ageing populations, saying increasing life expectancy will have a dramatic impact on their budgets in decades to come.

Read more: http://www.smh.com.au/business/the-economy/imf-managing-director-christine-lagarde-warns-of-demographic-timebomb-20160304-gnapv3.html#ixzz41zG4CIBe

IMF managing director Christine Lagarde warns of demographic timebomb

IMF managing director Christine Lagarde warns of demographic timebomb

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