Women Hit Hardest by the Financial Crisis

“Women Hardest Hit by the Financial Crisis”

An excerpt from the UNIFEM report dated June 24th, 2009. Now more than ever it is important for members to be the voices for women and girls. During these harsh economic times women and girls tend to suffer the most and become more vulnerable.
70% of the worlds poor are women.

The credit tightening has trickled down to the smallest of loans. Micro Finance has become a victim of the global financial crisis. We have seen the positive effects and sustainability of micro credit projects through our programs. It is vital that we continue to support projects that promote the advancement of women and girls.

Infrastructure spending has been promoted as a global stimulus and a quick fix to the financial problems. Unfortunately most infrastructure programs are directed towards male orientated jobs and have limited impact on women. What about investing in “Human Infrastructure?”

During economic recessions governments cut spending on public services and jeopardize health and personal security. Falling exports causes reversals in domestic and foreign migration. Millions of migrant workers are being forced to return home to a bleak existence once again.

There have been a series of meetings with global leaders to review the chain of events that lead to a global financial melt down and what they can do to avoid a future recurrence. For further insight read the report from Joseph Stiglitz, UN Panel of Experts on Reforms on the IMF System http://www.un-ngls.org/spip.php?article596
and the UNIFEM Comments and recommendations
http://www.unifem.org/news_events/story_detail.php?StoryID=895

Respectfully submitted,
Patti B. Dolan