It is 2023, Why Are Women Not Reaching Positions of Power?
Home > Finance & Fintech > Article

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

Photo by:   Gayatri Malhotra, Unsplash
Share it!
Sofía Hanna By Sofía Hanna | Journalist and Industry Analyst - Thu, 03/02/2023 - 17:12

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.

"It had taken us 20 years to reach 52% of women's participation in the economy and we have had a setback of 15%," said Mercedes D'Alessandro, Director of Economics, Equality and Gender, Argentinian Ministry of Economy, during the DMI Decididas Summit. If women worked at parity with men, the world would grow 35% more, which is critical given the current economic context. "Both women's economic and political participation is essential for growth and for sustainable human development, growth with quality," said Valeria Moy, Director, Mexican Institute for Competitiveness (IMCO), at the summit. 

 

DMI

Including women in decision-making processes is the basis for representative democracy. As over half of society’s members are women, the recognition of their equal participation is necessary for authorities to be representative. In Latin America, only Chile shows equity in female participation in ministerial cabinets. In addition, most women are often left in charge of the political aspects related to care, while men are in charge of those that have to do with money. This means that in addition to the low participation of women in political issues, the power they are given does not have a direct impact on planning for future economic or regulatory issues. 

DMI

According to Mexico’s National Women's Institute (INMUJERES), women represented only 16.2% of those running for governor and of those, none were elected. In municipal presidencies, they constituted 47.6% of the candidates but less than a third of those elected (28.4%).

Women's autonomy, which refers to their ability to make free and informed decisions, is linked to the exercise of political and electoral rights. Women have a right to participate in the decisions of their community and country, and they should be able to occupy and exercise public positions without any coercion, violence or pressure from any other person.

While women have been able to vote for years, they must often overcome the resistance of those who still do not accept their participation in community decision-making. This resistance can come from other women that still do not feel prepared for these tasks. According to the National Human Rights Commission (CNDH), the low levels of representation of Afro-descendant, indigenous or young women imply that their interests and needs are left out of the political agenda or are addressed in a marginal way and with an insufficient allocation of resources. 

There is a great need to close gender gaps. However, with a lack of women in economic and political power, the agenda ends up being diverted to other matters and equity is generalized as a long-term goal and not an urgency. Thus, equity goals become vulnerable to other elements such as the pandemic, which set back hard-won gains.

Photo by:   Gayatri Malhotra, Unsplash

You May Like

Most popular

Newsletter