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World not ready to deal with aging populations
World not ready to deal with aging populations (AP) / 4 October 2013 The world is aging so fast that most countries are not prepared to support their swelling numbers of elderly people, according to a global study by the United Nations and an elder rights group. The report ranks the social and economic well-being of elders in 91 countries, with Sweden coming out on top and Afghanistan at the bottom. It reflects what advocates for the old have been warning, with increasing urgency, for years: Nations are simply not working quickly enough to cope with a population graying faster than ever before. By the year 2050, for the first time in history, seniors over the age of 60 will outnumber children under the age of 15. Truong Tien Thao, who runs a small tea shop on the sidewalk near his home in Hanoi, Vietnam, is 65 and acutely aware that he, like millions of others, is plunging into old age without a safety net. He wishes he could retire, but he and his 61-year-old wife depend on the $50 a month they earn from the tea shop. And so every day, Thao rises early to open the stall at 6am and works until 2pm, when his wife takes over until closing. An elderly man listens to a speaker at a political rally in New Delhi, India. — AP “People at my age should have a rest, but I still have to work to make our ends meet,” he says, while waiting for customers at the shop, which sells green tea, cigarettes and chewing gum. “My wife and I have no pension, no health insurance. I’m scared of thinking of being sick — I don’t know how I can pay for the medical care.” Thao’s story reflects a key point in the report, which was released early to The Associated Press: Aging is an issue across the world. Perhaps surprisingly, the report shows that the fastest aging countries are developing ones, such as Jordan, Laos, Mongolia, Nicaragua and Vietnam, where the number of older people will more than triple by 2050. All ranked in the bottom half of the index. The Global AgeWatch Index (www.globalagewatch.org) was created by elder advocacy group HelpAge International and the UN Population Fund in part to address a lack of international data on the extent and impact of global aging. The index, released on the UN’s International Day of Older Persons, compiles data from the UN, World Health Organisation, World Bank and other global agencies, and analyzes income, health, education, employment and age-friendly environment in each country. The index was welcomed by elder rights advocates, who have long complained that a lack of data has thwarted their attempts to raise the issue on government agendas. “Unless you measure something, it doesn’t really exist in the minds of decision-makers,” said John Beard, Director of Ageing and Life Course for the World Health Organization. “One of the challenges for population aging is that we don’t even collect the data, let alone start to analyse it. … For example, we’ve been talking about how people are living longer, but I can’t tell you people are living longer and sicker, or longer in good health.” The report fits into an increasingly complex picture of aging and what it means to the world. On the one hand, the fact that people are living longer is a testament to advances in health care and nutrition, and advocates emphasise that the elderly should be seen not as a burden but as a resource. On the other, many countries still lack a basic social protection floor that provides income, health care and housing for their senior citizens. Elderly people take shelter from the rain at a subway station in Taipei, Taiwan. — AP Afghanistan, for example, offers no pension to those not in the government. Life expectancy is 59 years for men and 61 for women, compared to a global average of 68 for men and 72 for women, according to UN data. That leaves Abdul Wasay struggling to survive. At 75, the former cook and blacksmith spends most of his day trying to sell toothbrushes and toothpaste on a busy street corner in Kabul’s main market. The job nets him just $6 a day — barely enough to support his wife. He can only afford to buy meat twice a month; the family relies mainly on potatoes and curried vegetables. “It’s difficult because my knees are weak and I can’t really stand for a long time,” he says. “But what can I do? It’s even harder in winter, but I can’t afford treatment.” Although government hospitals are free, Wasay complains that they provide little treatment and hardly any medicine. He wants to stop working in three years, but is not sure his children can support him. He says many older people cannot find work because they are not strong enough to do day labor, and some resort to begging. “You have to keep working no matter how old you are — no one is rich enough to stop,” he says. “Life is very difficult.” Many governments have resisted tackling the issue partly because it is viewed as hugely complicated, negative and costly — which is not necessarily true, says Silvia Stefanoni, chief executive of HelpAge International. Japan and Germany, she says, have among the highest proportions of elders in the world, but also boast steady economies. “There’s no evidence that an aging population is a population that is economically damaged,” she says. Prosperity in itself does not guarantee protection for the old. The world’s rising economic powers — the so-called BRICS nations of Brazil, Russia, India, China and South Africa — rank lower in the index than some poorer countries such as Uruguay and Panama. However, the report found, wealthy nations are in general better prepared for aging than poorer ones. Sweden, where the pension system is now 100 years old, makes the top of the list because of its social support, education and health coverage, followed by Norway, Germany, the Netherlands and Canada. The United States comes in eighth. Sweden’s health system earns praise from Marianne Blomberg, an 80-year-old Stockholm resident. “The health care system, for me, has worked extraordinarily well,” she says. “I suffer from atrial fibrillation and from the minute I call emergency until I am discharged, it is absolutely amazing. I can’t complain about anything — even the food is good.” Still, even in an elder-friendly country like Sweden, aging is not without its challenges. The Swedish government has suggested people continue working beyond 65, a prospect Blomberg cautiously welcomes but warns should not be a requirement. Continue reading
India tops global remittances list
India tops global remittances list Issac John / 4 October 2013 With the developing world on track to receive $414 billion in migrant remittances in 2013 — an increase of 6.3 per cent over the previous year — India again topped the global chart with $71 billion in remittances, according to a revised World Bank forecast. Other top recipients of officially recorded remittances for 2013 are China ($60 billion), the Philippines ($26 billion), Mexico ($22 billion), Nigeria ($21 billion), and Egypt ($20 billion), the report said. The World Bank said migrant remittances to developing world is projected to jump to $540 billion by 2016. The GCC is already the largest send market for South Asian and Mena countries, contributing close to 50 per cent of the market. It also accounted for more than 40 per cent of the total inward remittances received by the market, said Sudhesh Giriyan, vice-president & business head, Xpress Money. “GCC will continue to grow in its stature as a major remittance source bloc with countries like the UAE and Qatar lining up major development projects, particularly in infrastructure, which will, in turn, lead to more influx of expatriate labour force,” said Giriyan. India’s projected remittance receipt is just short of three times the FDI (foreign direct in-vestment) it received in 2012, when the country’s recorded $69 billion in total remittances. India and China alone will represent nearly a third of total remittances to the developing world this year, said Dilip Ratha, economist and the manager of the Migration and Remittances Unit at the World Bank. Other large recipients include Pakistan, Bangladesh, Vietnam and Ukraine. Remittance in-flows to the Middle East and North Africa region are expected to grow by 3.6 per cent in 2013 to about $49 billion. With about $20 billion in remittances anticipated in 2013, Egypt is the sixth largest beneficiary in the developing world, and receives about 40 per cent of remittances sent to the Mena region. Migration within the Mena region is growing, accounting for a growing share of migrants. The largest corridor is from Egypt to the GCC, where there are 2.4 million Egyptian migrants, including 1.3 million in Saudi Arabia alone, the World Bank said. Remittances to Lebanon and Morocco, two other large recipients in the Mena region, are expected to recover in 2013, after flat or negative growth in 2012. In 2012, the total remittances made by migrant workers in the Arab Gulf states amounted to $80 billion (representing a fifth of the global remittances), out of which 24 per cent were remitted by the migrant workers in the UAE for the same year, according to Ambassador Ahmed Al Jarman, Permanent Representative of the UAE to the United Nations at a UN roundtable. Globally, the world’s 232 million international migrants are expected to remit earnings worth $550 billion this year, and over $700 billion by 2016, says the latest issue of the World Bank’s Migration and Development Brief. As a percentage of GDP, the top recipients of remittances in 2012 were Tajikistan (48 per cent), Kyrgyz Republic (31 per cent), Lesotho and Nepal (25 per cent each), and Moldova (24 per cent). Growth of remittances has been robust in all regions of the world, except for Latin America and the Caribbean, where growth decelerated due to economic weakness in the United States. In South Asia, remittances are noticeably supporting the balance of payments. In Bangladesh, Nepal, Pakistan and Sri Lanka, remittances are larger than the national foreign exchange reserves. All these countries (most notably, Pakistan) have instituted various incentives for attracting remittances. In India, remittances are larger than the earnings from IT exports. With the weakening of the Indian rupee, a surge in remittances is expected as non-resident Indians take advantage of the cheaper goods, services and assets back home. “Fall in the rupee exchange rate and attractive interest rates on external deposits have helped drive remittances to India, thereby supporting the balance of payments situation and contributing 3.7 per cent to India’s GDP,” said Promoth Manghat, vice-president — global operations, UAE Exchange. The Indian rupee depreciated by over 20 per cent during the first three quarters of 2013, among other things due to concerns over continuing current account deficits in India and the impact of an expected tightening of monetary policy in the US, which has induced a general retrenching of international capital and reduced flows to India. While actual data have not yet been compiled for the third quarter of 2013, money transfer operators are reporting a surge in remittances, as Indian migrants benefit from a higher value of their remittances in India. Remittances to India in the first half of 2013 were $35.6 billion. issacjohn@khaleejtimes.com Continue reading




