Associations, Stock Exchanges Celebrate International Women’s Day

In the context of International Women’s Day, numerous organizations are introducing new measures to promote gender equality and greater participation of women in the workforce, among other initiatives. During the DMI Decididas Summit, female leaders met to discuss women's position in the economy and politics and how this affects inclusion and equality. On Tuesday, Mexico's Institutional Stock Exchange (BIVA) carried out the "Ring the Bell for Gender Equality" ceremony, which aims to motivate companies to commit to equal pay. Mexico’s Stock Exchange (BMV) held a ceremony on Wednesday to promote gender equality. 

Meanwhile, Nubank was included among the world's most innovative companies for 2023, according to Fast Company. In international news, global growth is projected to decline from 3.4% in 2022 to 2.9% in 2023 and then rebound to 3.1% in 2024. 

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It is 2023, Why Are Women Not Reaching Positions of Power?

Women's participation in the economy and politics is essential to achieve growth, but the COVID-19 pandemic led to a 20-year setback in women's labor market participation, which contracted back to the numbers seen at the beginning of the century. Including women in decision-making processes is the basis for representative democracy, argued panelists at DMI Decididas Summit. 

As over half of society's members are women, recognizing their equal participation is necessary for authorities to be representative. The lack of women in economic and political power has diverted global agendas to other matters, generalizing equity as a long-term goal rather than an urgent one. Thus, equity goals become vulnerable to other elements, such as the pandemic, which set back hard-won gains. 

Nubank Listed Among World's Most Innovative Companies of 2023ç

Nubank, with nearly 75 million customers across Latin America and a growing portfolio, is being recognized for "changing the way banking is done in Brazil" and for launching its Caixinhas (Money Boxes). The company is now being included among the world's most innovative companies of 2023, according to Fast Company. Nubank ranked in the Top 5 globally and won first place in Latin America. This is the third time Nubank has appeared on Fast Company's list of the world's most innovative companies globally and the second time it has ranked first in Latin America.

Global Economic Growth Could Slowdown in 2023, Rebound in 2024

Global growth is projected to decline from 3.4% in 2022 to 2.9% in 2023 and then rebound to 3.1% in 2024, forecasts the International Monetary Fund (IMF). The Bank of Mexico (Banxico) reports that economic growth in 2023 and 2024 would contract due to a deterioration in expectations for US industrial activity. The balance of risks remains tilted downward but adverse risks have moderated since October 2022, according to a recent report by the IMF. Growth is expected to pick up in 2024, reflecting a gradual recovery from the effects of the war in Ukraine and subsiding inflation. 

BIVA Rings Bell for Gender Equality 

On Tuesday, Mexico's Institutional Stock Exchange (BIVA) carried out the "Ring the Bell for Gender Equality" ceremony, which aims to motivate companies to commit to equal pay. The event was held with the support of various associations, organizations and institutional investors. Over 30 women's associations joined the event in solidarity. "Despite the efforts to add more women to the economy, in Mexico, women's economic participation rate has ranged between 40% and 45% in the last 17 years. The conditions today are still not optimal. The low participation of women and the lack of similar conditions in the labor market are holding back the economic potential of our country," says Maria Ariza, General Director, BIVA.