then the Washington Consensus institutions used pressure, conditionality, and carrot of infrastructure where public opposition significant 
ILO vs World Bank
ILO: pension systems should provide old-age income security, difficult with privately managed DC individual accounts
World Bank: pension systems should reduce fiscal pressures.
ILO: pension systems should provide old-age income security, difficult with privately managed DC individual accounts
World Bank: pension systems should reduce fiscal pressures.
ILO was right, private pensions underperformed and the WB dropped its push for pensions privatization.
not for long though: under the emerging #WallStreetConsensus, World Bank again pushing for privatisation, this time framed as 'domestic resource mobilisation' for deeper capital markets.
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