World Economic Outlook, April 2025: Chapters 2 and 3 Now Available, Main Chapter Coming April 22 at 9 AM ET

Chapter 2: The Rise of the Silver Economy: Global Implications of Population Aging

As the global population ages, economies worldwide are experiencing significant demographic shifts with profound implications. Chapter 2 explores the rise of the "silver economy," focusing on the extent of healthy aging and its impact on labor markets, the broader economic implications of demographic changes, and the role of targeted policies in mitigating the adverse effects of aging. The analysis reveals that while population aging poses challenges such as slower growth and increased fiscal pressures, healthier aging trends offer a silver lining by boosting labor force participation, extending working lives, and enhancing productivity. The chapter underscores the importance of policies that support healthy aging, increase labor force participation among older individuals, and close gender gaps in the workforce. By leveraging these strategies, countries can harness the potential of the silver economy to boost growth and rebuild fiscal buffers amid demographic headwinds.

Chapter 3: Journeys and Junctions: Spillovers from Migration and Refugee Policies

The movement of migrants and refugees has become a fixture of public debate. Chapter 3 examines how changes in the stringency of migrant and refugee policies can alter the journeys and legal pathways people choose to take within and between economies. For example, stricter policies can deflect flows of people to new destinations. Those economies can experience short-term challenges from strains on local services but ultimately benefit in the longer term. Costs are likely to be more severe where challenges to integrate newcomers are larger—notably in emerging market and developing economies—and their skills are not well matched with local labor market needs. Benefits can materialize sooner by boosting infrastructure investment and promoting private sector development. International cooperation can also help by more evenly distributing short-term costs across economies.

Chapter 2 Panel Discussion

We have just released new research on global demographic shifts, highlighting the rapid aging of populations worldwide, the rise of the 'silver economy,' and its impact on economic growth. Join Bertrand Gruss, Deputy Division Chief in the IMF’s Research Department; Andrew J. Scott, Professor of Economics at London Business School; and Michelle Fleury, Correspondent at BBC News, for a discussion on key findings and policy implications.

Panelists:

Bertrand Gruss, Deputy Division Chief, Research Department, IMF
Andrew J. Scott, Director of Economics, Ellison Institute of Technology and Professor of Economics, London Business School
Moderator: Michelle Fleury, Correspondent, BBC News

COMING SOON

Launch of the April 2025 World Economic Outlook

The World Economic Outlook (WEO) is a survey of prospects and policies by the IMF staff, usually published twice a year, with updates in between. It presents analyses and projections of the world economy in the near and medium term, which are integral elements of the IMF’s surveillance of economic developments and policies in its member countries and of the global economic system.

RELEASE DATES

AVAILABLE NOW: Chapter 3: Journeys and Junctions: Spillovers from Migration and Refugee Policies
AVAILABLE NOW: Chapter 2: The Rise of the Silver Economy: Global Implications of Population Aging
TUESDAY, APRIL 22, 9 AM ET: Press Briefing: World Economic Outlook, April 2025

Speakers:

Pierre-Olivier Gourinchas, Chief Economist and Director, Research Department, IMF
Petya Koeva-Brooks, Deputy Director, Research Department, IMF
Deniz Igan, Division Chief, Research Department, IMF
Moderator: José Luis de Haro, Communications Officer, IMF