The best news from the United Kingdom on small business
Provided by AGP
UNDP Says Debt Crisis Could Cost Women 55M Jobs
(MENAFN) Surging sovereign debt repayments risk wiping out the equivalent of 55 million women's jobs in the near term as cash-strapped governments slash social services to meet financial obligations, the UN Development Program (UNDP) warned Monday.
"Sovereign debt is not a math problem. It is a human one. This analysis sheds new light on how crushing debt payments leave many governments across the world with limited fiscal space and lead to cuts to vital social services – with the heaviest toll falling on women," UNDP Administrator Alexander De Croo said in a statement accompanying the report.
De Croo further cautioned that "when care services are cut, responsibility shifts back onto households – with women carrying most of it, often limiting their access to economic opportunities. Ultimately, debt management strategies must safeguard space for social and care investments that underpin resilient economies – and, in turn, human development."
The findings, published in a report titled "Who Pays the Price? Gender Inequality and Sovereign Debt," draw on data spanning 85 developing nations and paint a stark picture: women's per capita income is projected to decline by 17% while male incomes remain largely unaffected, and maternal mortality is forecast to surge by 32.5% as countries shift from moderate to high debt repayment burdens.
Raquel Lagunas, UNDP Global Director of Gender Equality, underscored the disproportionate burden borne by women, stating that "when public spending is squeezed by debt repayment, it is women who lose first — their jobs, their services, their economic security."
She pressed for structural reform in how debt decisions are made, urging policymakers to act: "This is why we must integrate gender-based impact assessments into decision-making, protect critical investments in social and care infrastructure, and use gender-responsive budgeting to track how debt servicing affects different economic outcomes for different people."
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
