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IMF Georgieva and US Treasury Secretary Yellen talk on the She-cession in the pandemic

Marking International Women’s Day 2021, US Treasury Secretary Janet Yellen joined a one-on-one conversation with International Monetary Fund Managing Director Kristalina Georgieva discussing their personal and professional journeys through the traditionally male-dominated world of economics.

Women account for less than 2% of CEOs in banks and less than 20% of executive board members in bank and supervisory boards. Having more women in executive positions contributes to diversity of thought, which leads to better economic decision-making. This International Women’s Day IMF Managing Director Kristalina Georgieva and US Treasury Secretary Janet Yellen sat down for a conversation on “The Age of Womenomics.”

They discussed ways to make the profession more attractive to women, including by making it less confrontational and working to make it more collaborative which both thought would help young female economists feel more valued and likely to stay in the business.

Eventually the talk turned to the current crisis and Georgieva called it a “She-cession” facing women globally and asked what could be done in the US.

“I think it’s absolutely tragic the impact that this crisis has had on women, especially low skilled women and minorities,” said Yellen in the virtual event taped a few days earlier.

“In the United States we’ve been talking about this is a K-shaped crisis. People at the top of the income distribution have continued to do very well. And people closer to the bottom have, who have been really struggling for a long time in the United States and many other countries, have been the hardest hit. It is an extremely unfair thing that’s happened,” she added.

“We’re really concerned about scarring, permanent scarring from crisis. And it’s focused very heavily on doing everything we can to get back on track as quickly as we can,” said Yellen.

Image over the headline.- Kristalina Georgieva (IMF Managing Director) -on the left- and Janet Yellen (US Treasury Secretary). © IMF. Caption of the video,© Eastwind.

Related Eastwind links:

US Treasury Yellen talks with IMF Georgieve on the She-cession by the pandemic (video)

Related external links:

“The Age of Womenomics” a conversation between kristaalina Georgieva and Janet yellen (the whole video)

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