There has been a lively debate on current account (CA) imbalances around the world. Georgia is not an exception with its politicians and economists often complaining about Georgia’s current account deficits (see Figure 1) and discussing potential ways of reducing or even eliminating them without actually reasoning why one should do so.

Many countries in the world run their public pension systems under the so-called pay-as-you-go (PAYG) scheme, where pensioners receive their money from those who are currently working.

Mathematical literacy has always been a key factor in improving a country’s productivity and competitiveness. Stanford University’s Eric Hanushek has shown that there is a positive relationship between students’ performance in mathematics tests and economic growth.