Old Age and Pension in Brazil and Other Countries

Anne O. Krueger, First Deputy Managing Director of the International Monetary
Fund speaks at the Jackson Hole Symposium:
“In 2001, the World Bank noted
that in Brazil, less than 1% of social security spending reached the poorest
10%, while 50% went to the wealthiest 10%. By 2020, the total public pension
system will be in deficit by something like 4.9%””an actuarial imbalance of
around 235% of GDP.”