WASHINGTON - International Monetary Fund Managing Director Kristalina Georgieva on Tuesday vowed to fight for greater gender equality at the global lender and around the world, telling a packed audience: “Buckle up. It’s going to come.”
The Bulgarian economist and former World Bank chief executive spoke openly about her battle scars after decades in international institutions. She said economic studies clearly showed that improving gender equality would boost growth. When she took over as chief executive of the World Bank in 2017, Georgieva set a goal of achieving gender parity in top roles, and the bank met that target a year later - two years ahead of schedule.
Georgieva lauded a new IMF working paper on unpaid labor, which showed that women do an average of 2.7 more hours of childcare, housecleaning and other unpaid work per day than men. If such work were included in calculations of gross domestic product, it would boost economic output by as much as 35% worldwide, Georgieva said. Individual countries could boost GDP significantly by getting more women into the workforce.
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