When experts declare that the “70s are the new 50s,” it’s more than just a catchy phrase.
Data from 41 countries released by the International Monetary Fund in time for this week’s World Bank/IMF Spring Meetings found that, on average, a person aged 70 in 2022 had the same cognitive abilities as someone who was 53 years old in the year 2000, meaning the world is aging better.
But while it’s worth celebrating, aging and longevity also unveil complex challenges that countries and development institutions such as the World Bank need to navigate. The challenges cover health, but also social protection, jobs, and financing.