economy
Women in developing countries hardest hit by rising debt burden, UN research finds
Study warns women face job losses and increased unpaid care duties as debt and conflict-driven turbulence force spending cuts
TL;DR
- Women are disproportionately affected by rising debt burdens in developing countries, according to UN research.
- Government spending cuts to manage debt often lead to job losses for women, who are overrepresented in social sectors.
- Women also tend to shoulder increased caring responsibilities as state support diminishes.
- The war in the Middle East is expected to worsen the situation by increasing energy and fertilizer costs and global interest rates.
- Debt-servicing burdens in 85 developing countries nearly doubled between the early 2010s and 2022, leading to millions of women's job losses.
- A shift to a high debt-servicing burden causes a significant decline in women's income per capita, while men's income remains unchanged.
- UN suggests linking debt relief to commitments that protect women from spending cuts.
- Rising prices for oil, gas, and fertilizer, along with currency volatility, further strain developing countries' finances.