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Jul 23, 2022

IMF okays new gender strategy

Foreign Affairs News Desk

The IMF Executive Board has endorsed its first Gender Strategy aimed at integrating gender into the Fund’s core activities — surveillance, capacity development, and lending— in accordance with its mandate yesterday.

“This means more systematically assessing the macroeconomic consequences of gender gaps where they are macro-critical, evaluating the gender- differentiated impact of shocks and policies, and providing granular and tailored macroeconomic and financial policy advice and capacity development support,” said the Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva.

Crises, including the pandemic and wars, are taking a heavy toll on women’s lives and livelihoods, compounding the effect of climate change and increased global fragility. These developments are exacerbating existing gender gaps, and our member countries are increasingly refining their policies to implement gender-responsive measures,” Georgieva said.

“Mainstreaming gender at the IMF starts with recognizing that reducing gender disparities goes hand-in-hand with higher economic growth, greater economic stability and resilience, and lower income inequality,” IMF chief said adding, “Well-designed macroeconomic, structural, and financial policies can support efficient and inclusive outcomes and equitably benefit women, girls, and society in general.”

“The Gender Strategy is based on empowering IMF, setting up a robust framework, strengthening collaboration and efficiently utilizing resources,” Georgieva added.