Working towards gender equality can help the world economy recover more quickly from recent crises and drive more sustainable growth going forward, a senior International Monetary Fund official has said.
The Russia-Ukraine war, the Covid-19 pandemic, higher food and energy prices and climate change have widened already-large gender gaps, disproportionately affecting women’s jobs, incomes and security, Gita Gopinath, the IMF first deputy managing director, said in a speech on Tuesday.
"Eliminating gender disparities that hold women back is the right thing to do. Ensuring equality in opportunities and potential to participate in the economy can be catalytic for a faster recovery from recent shocks, and a strong engine of growth for more resilient, sustainable and inclusive economies going forward," Ms Gopinath said.
"Gender equality goes hand-in-hand with macroeconomic and financial stability, can stimulate economic growth, boost private and public sector performance, and reduce income inequality."
The comments come after the IMF in June adopted a strategy to better integrate gender policies into its work as global crises have disproportionately affected women and further exacerbated inequalities.
It will now take more than 130 years to close gender gaps worldwide, up from about 100 years before the pandemic, according to the World Economic Forum. The Middle East and North Africa had the second-widest gender gap in the world, ranking below only South-East Asia, with 115 years to close the gender gap.
The coronavirus pandemic, higher inflation, the climate change emergency and large-scale conflicts and displacement are stalling progress towards gender parity, the World Economic Forum said in its Global Gender Gap Report 2022 released in July.
About 64 million women globally lost their jobs during the pandemic, twice as many as men, because women are more likely to work in informal, temporary and part-time jobs, according to the IMF. These are the types of jobs employers tend to cut first in a downturn — with lower pay and less social protection. And an estimated 80 per cent of people displaced by climate change are women, according to the UN Development Programme.
The IMF's comprehensive Strategy for Mainstreaming Gender starts from the premise that gender equality has positive macroeconomic benefits, Ms Gopinath said.
However, the strategy also recognises that economic and financial policies affect women and men differently, often unintentionally, she said.
The framework will integrate gender into the core of the IMF's work. This includes its economic surveillance and policy advice, the design of IMF-supported programmes, and capacity development such as providing training on topics like gender budgeting.
"In these ways, we can better support our member countries as they harness the economic dividends of reducing gender inequality," Ms Gopinath said.
"The IMF has [been] producing research on gender issues for some time. But a systematic approach has never been more urgently needed," she said.
The strategy will provide IMF staff with better tools to systematically assess the macroeconomic consequences of gender gaps, evaluate the gender-differentiated impact of shocks and policies, and provide granular and tailored macroeconomic and financial policy advice, she said.
"While the vision of the strategy is ambitious, the timeline for its implementation is expected to be gradual and measured," Ms Gopinath said.
"We will take the time needed to get this right. But we are confident that we will succeed in formulating the right policies on gender issues for the benefit of our membership, and especially for women."
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
What is a black hole?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
UAE currency: the story behind the money in your pockets
MATCH INFO
Watford 2 (Sarr 50', Deeney 54' pen)
Manchester United 0
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
MAIN CARD
Bantamweight 56.4kg
Abrorbek Madiminbekov v Mehdi El Jamari
Super heavyweight 94 kg
Adnan Mohammad v Mohammed Ajaraam
Lightweight 60kg
Zakaria Eljamari v Faridoon Alik Zai
Light heavyweight 81.4kg
Mahmood Amin v Taha Marrouni
Light welterweight 64.5kg
Siyovush Gulmamadov v Nouredine Samir
Light heavyweight 81.4kg
Ilyass Habibali v Haroun Baka
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
The biog
Name: Abeer Al Bah
Born: 1972
Husband: Emirati lawyer Salem Bin Sahoo, since 1992
Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old
Education: BA in Elementary Education, worked for five years in a Dubai school
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
more from Janine di Giovanni
