Managing Director of International Monetary Fund, Christine Lagarde has emphasised the role of women in boosting economic growth.
Lagarde said this during the W-20 Summit held in Ankara, Turkey on Monday. She noted that getting more women to secure well-paid jobs raises overall per capita income.
She said “First, we know that empowering women boosts economic growth.
“Second, getting more women into secure and well-paid jobs raises overall per capita income.
“Third, greater gender equality not only raises absolute income, it also helps to reduce income inequality.
“And forth, female empowerment can reduce poverty. The Food and Agriculture Organization, for example, has estimated that giving women the same access to farming resources as men could increase agricultural output in developing countries by up to 4 percent–lifting over 100 million people out of hunger.”
While outlining key policy areas for women’s economic empowerment, she listed Going to school—education, getting a job—working and having a family.
She said “At an individual level, for instance, we know that one extra year of primary school boosts a woman’s earning potential by 10 to 20 per cent. One extra year of secondary school boosts her earning potential by 25 per cent.”