Ageing populations to weigh on Asia growth

SEOUL: The chief of the International Monetary Fund warned Thursday that ageing populations in key Asian economies would drag on their growth, urging policymakers to step up their response to shifting demographics.

Studies show that Asia’s population is ageing faster than anywhere else in the world, with Japan forecast to become the first “ultra-aged” country, meaning 28 percent of the population is 65 or over, while a fifth of the people in South Korea are expected to be 65 by 2030.