Georgia to switch pension system based on funded component
Georgian Finance Minister Nodar Khaduri held several meetings in Washington. The Georgian delegation met with Meg Lundsager, U.S. Executive Director at the International Monetary Fund to discuss the situation in Georgia, mainly steps Georgia had to take to develop and to continue reforms.
14 October 2013
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A pension reform and bond market development in Georgia topped the agenda of a meeting between Nodar Khaduri and Loic Chiquier, manager of the Non-Bank Financial Institutions Group within the World Bank’s Global Capital Markets Department.
“We had an interesting meeting,” Khaduri said. “Georgia’s Ministry of Finance together with the Ministry of Economy is actively working on a pension reform. Unfortunately, the country has no pension system adjusted to the European standards so far. We should switch to a pension system based on a funded component and we have discussed how the World Bank can help us to carry out the reform, providing advice and human resources, to end this process as soon as possible.”
Source: blackseanews.net
“We had an interesting meeting,” Khaduri said. “Georgia’s Ministry of Finance together with the Ministry of Economy is actively working on a pension reform. Unfortunately, the country has no pension system adjusted to the European standards so far. We should switch to a pension system based on a funded component and we have discussed how the World Bank can help us to carry out the reform, providing advice and human resources, to end this process as soon as possible.”
Source: blackseanews.net