This publication pointed a way out from what appeared to be an intractable downward spiral of weakening economic activity, high inflation, low living standards, chronic unemployment and a level of emigration that was comparable to the birth rate.
The funding situation puts systems under a great deal of pressure to reach for higher returns by investing in riskier assets. But as has been so clearly and forcefully demonstrated over the past year, there is no free lunch with risk-taking: The price is volatility, the extent of which should be well disclosed and the implications of which should be well understood.