IMF adopts gender strategy
The IMF has adopted its first gender strategy aimed at mainstreaming gender issues in the fund's core activities.
What you need to know:
- A statement by IMF managing director Kristalina Georgieva last Friday revealed that the strategy would be effected immediately but in a gradual and measured process.
- The strategy 'sets a vision to mainstream gender policies into the fund’s core activities (surveillance, capacity development and lending) in accordance with its mandate'.
The International Monetary Fund (IMF) has adopted its first gender strategy aimed at mainstreaming gender issues in its core activities.
A statement by IMF managing director Kristalina Georgieva in Washington, USA, last Friday revealed that the strategy would be effected immediately but in a gradual and measured process.
“The IMF has integrated a gender strategy, which sets a vision to mainstream gender policies into the fund’s core activities (surveillance, capacity development and lending) in accordance with its mandate.
“This means 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,” Ms Georgieva said.
Acknowledging that the strategy is adopted in an economically difficult time exacerbated by the Covid-19 crisis, climate change and wars, the senior advisor on gender in the office of the managing director, Ratna Sahay, stated that the newly adopted policy would assist the global fund to adapt to the evolving needs and priorities of its member states.
“Mainstreaming gender at the IMF starts with recognising that reducing gender disparities goes hand in hand with higher economic growth, greater economic stability and resilience, and lower income inequality. Well-designed macroeconomic, structural, and financial policies can support efficient and inclusive outcomes and equitably benefit women, girls and society in general,” part of Ms Georgieva’s statement reads.
The strategy is based on four pillars that advocate the setup of a robust framework for macro-critical aspects of gender to be integrated into IMF country work and access to relevant data and modelling tools to conduct policy analysis.
Through peer learning and efficient use of resources allocated to gender mainstreaming, member states, including Kenya, are expected to achieve inclusive and equitable economic growth and resilience.
