Moscow: Global population growth is set to diminish to almost zero by the end of the century, the International Monetary Fund (IMF) said on Wednesday. "Unprecedented demographic changes expected throughout this century are creating increasingly pressing issues for all countries to navigate. Global population growth will slow from 1.1 percent per year before the COVID-19 pandemic to basically zero in 2080-2100," the IMF said in a chapter of the World Economic Outlook presented ahead of the fund's and the World Bank's Spring Meetings in Washington.

According to Namibia Press Agency, the IMF projects that an ongoing decline in fertility and an increase in longevity will bring sharp changes in the age structure of economies. The fund said that the average age of the world's population is projected to increase by 11 years between 2020 and the end of the century.

"These forces are driving the rise of the 'silver economy,' as the share of the older population-ages 65 and older-is increasing rapidly throughout the world, with far-reaching implications for economies and societies," the report said.

The IMF warns that economies around the world are progressively reaching their so-called "demographic turning point," or the year when the share of the working-age population in their total population begins to decline. All advanced and emerging markets are expected to cross the threshold by 2035, while most low-income countries will have experienced similar issues by 2070, according to the report.