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What is the most likely consequence of an ageing population for a high-income economy?

According to the International Monetary Fund, many advanced economies, including those in Europe and North America, face a projected decline in their working-age populations in the coming decades. The most likely consequence of an ageing population for a high-income economy is a multi-faceted challenge, centered on a shrinking labor force and a growing fiscal burden, which can slow economic growth and strain public finances.