This Staff Discussion Note looks at the stark fiscal challenges posed by the decline and aging of populations between now and 2100. It finds that without reforms, pensions and health spending would rise to 25 percent of GDP by end-century in more developed countries (and 16 percent of GDP in...

This chapter examines three areas where multilateral cooperation is necessary: climate change, international corporate taxation, and sustainable development. Progress in addressing challenges in all these three areas through global cooperation is crucial. We need to find effective ways to limit...