Preparation of a detailed strategy and implementation plan on pension reform.
At P1R7R8R9, preparation of pension reform strategy broadly discussed, to be implemented by the new government after November 2006 presidential elections. June 2006 PC. At P1R11, a high level committee, set up to determine the aganda for pension reform, had submitted its recommendtions to the government, but staff were concerned that the recommendations did not adequately address the closing of the actuarial gap. In December, the authorities proposed additional pension reform measures, designed to close the gap, and the Board granted a waiver on the basis of these corrective actions.