We know that in certain sectors with greater gender inequality just closing the gap in women’s labour force participation could increase economic output by an average of 35%. Progress, however, is slow and is different from one community to another.

Appropriate economic and financial policies can help change these negative outcomes, improving economies by supporting the recovery and building resilience for the future.

For example, while the pandemic set women further back everywhere, it also drove policy innovations. Several pandemic assistance programs targeted certain groups and brought more people into social safety nets. These programs make it easier to provide targeted assistance to cope with inflation.

Investment in human capital to provide everyone equal access to food, healthcare and education are especially large in emerging and developing economies. Communities need to ensure their people can live healthy to be able to contribute to their growing economies.

One solution is increasing the representation of women in leadership positions is critical. Studies show that a greater presence of women in financial institutions and financial policymaking roles goes hand in hand with greater financial resilience for communities.

Nour Mazloum

Marketing & Communications Manager at Kingston Economic Development

Chair, DEI Committee at EDCO

mazloum@investkingston.ca