40. Double whammy of debt: Why austerity measures multiply financial inequality for women

2023-04-06

This week, just before the World Bank and IMF meetings to discuss the global economy, The Weekly Tradecast is looking at women and debt with UNCTAD’s Penelope Hawkins. Gender inequalities in society mean women are routinely paid less than men and often struggle to make ends meet. But now with countries facing higher borrowing costs and high prices for food and energy, there is an extra-damaging impact on women when governments resort to austerity measures. Health and education are often the first places to be...

This week, just before the World Bank and IMF meetings to discuss the global economy, The Weekly Tradecast is looking at women and debt with UNCTAD’s Penelope Hawkins.

Gender inequalities in society mean women are routinely paid less than men and often struggle to make ends meet. But now with countries facing higher borrowing costs and high prices for food and energy, there is an extra-damaging impact on women when governments resort to austerity measures.

Health and education are often the first places to be cut, depriving women of jobs in the public sector. They are more likely to leave work to care for children or elderly relatives. Girls are often the ones taken out of school when family budgets are tight.

How can women achieve more financial equality and avoid falling into debt?

Tune in to UNCTAD’s Penelope Hawkins to find out.

Credit: BBC sound effects

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