## GENDER DIVERSITY IN THE EXECUTIVE BOARD—PROGRESS REPORT OF THE EXECUTIVE BOARD TO THE BOARD OF GOVERNORS

## Source details

**Canonical URL:** [GENDER DIVERSITY IN THE EXECUTIVE BOARD—PROGRESS REPORT OF THE EXECUTIVE BOARD TO THE BOARD OF GOVERNORS](https://www.imf.org/-/media/files/publications/pp/2019/ppea2019036.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/pp/2019/ppea2019036.pdf.md)
- [Structured JSON version](/-/media/files/publications/pp/2019/ppea2019036.pdf.json)

---

### Executive summary and rationale
- The Executive Board comprises 24 Executive Directors elected by all 189 member countries; Executive Directors are supported by 30 Alternate Executive Directors.
- Current female representation is low: five women in Executive Director and Alternate Executive Director roles (three Executive Directors and two Alternate Executive Directors).
- Improved gender diversity is expected to strengthen decision-making by widening perspectives, skill sets, and experiences; IMF studies link greater board gender diversity to stronger financial outcomes, reduced risk, and enhanced resilience.
- The Executive Board adopted a Gender Diversity Strategy in 2016 and established a standing Working Group on Gender Diversity (WGGD) to implement and report on the strategy.

### Current gender profile — key statistics and trends
- Average figures 2014–2019:
  - 2 of 24 Executive Directors
  - 4 of 31 Alternate Executive Directors
  - 24% Share of female Senior Advisors
  - 33% Share female Advisors
  - 1 Constituency with a female Executive Director and Alternate Executive Director
- As of July 2019 (IMF Offices of Executive Directors):
  - Executive Directors: 3 13%
  - Alternate Executive Directors: 2 7%
  - Senior Advisors: 13 27%
  - Advisors: 33 35%
  - Total: 51 26%
- Comparative points:
  - Share of women holding Advisor and Senior Advisor positions has increased over time.
  - Share of female Executive Directors has generally hovered around 4-8 percent (1-2 positions), with a recent peak of 13 percent (3 out of 24).
  - Share of women in Alternate Executive Director positions has declined since the 2017 report.
- Recruitment and selection notes:
  - Recruitment lead times for senior positions are lengthy.
  - A 2017–2018 WGGD informal survey gathered 61 responses representing 56 member countries; responses indicated a mix of open selection processes and closed direct appointments and that Executive Directors often do not influence selection of Executive Director and Alternate Executive Director candidates.
  - The survey was helpful but insufficiently broad-based to be definitive.

### Targets, strategy, and comparative benchmarks
- Voluntary targets in the Gender Diversity Strategy (2016):
  - Senior Advisors: 35-45 percent female by 2020.
  - Advisors: 40-50 percent female by 2020.
- Comparator observations:
  - The IMF’s Executive Board is generally behind a number of comparator IFIs and many selected central banks on gender representation.
  - IFIs and the IMF lag the private sector (Fortune 500) on female board representation (Fortune 500 female board share: 15.7% in 2010; 16.6% in 2012; 20.2% in 2016; 22.5% in 2018).
- Evidence cited:
  - Research shows greater diversity improves quality of decision making and outcomes.
  - IMF analysis indicates higher shares of women on bank boards and in banking supervision associate with greater financial resilience and bank stability.
  - IMF Staff Discussion Note: Women in Finance: A Case for Closing the Gaps (September 2018) referenced as background evidence.

### WGGD focus, actions, and implementation plan
- Primary WGGD objectives for 2019 and next 18 months:
  - Prepare groundwork to increase representation of women as Executive Directors and Alternate Executive Directors for the regular election in October 2020.
  - Increase the number of women appointed to Senior Advisor and Advisor positions, noting significant turnover at the start of each new Board term (November 1 of every even numbered year).
- Proposed actions and outreach:
  - Engage all Executive Directors as advocates within constituency offices and with authorities.
    - Request constituency office staff complete the Fund’s Unconscious Bias training as part of onboarding.
    - Conduct targeted outreach to key stakeholders in member countries (e.g., written communications to Governors; informal engagement in routine contacts).
  - Develop recommendations to address institutional barriers to gender diversity.
  - Produce short factual materials and key messages (e.g., Fact Sheet on Gender Diversity at the Executive Board).
  - In partnership with the Managing Director as Chair of the Board, engage high-level decision makers (e.g., at Global Policy Agenda presentations).
  - Raise the issue at Spring and Annual Meetings and through constituency meeting agendas and open events.
  - Provide networking opportunities for female staff in Offices of Executive Directors for peer support, informal mentoring, and strategy development.
- Communications plan:
  - A multi-pronged communications plan has been adopted to be implemented over the next 18 months, targeting Executive Board members, management, relevant staff, and the IMF membership.

### Monitoring and next steps
- The WGGD will:
  - Monitor progress against objectives.
  - Regularly report progress towards implementation of the strategy to the Executive Board for referral to the Board of Governors.
  - Focus 2019 efforts on raising awareness of the benefits of gender diversity and encouraging selection of women for the October 2020 Executive Director election and for Senior Advisor and Advisor roles.

*Source: Progress Report prepared by the Executive Directors of the Working Group on Gender Diversity at the Executive Board and IMF staff, October 2019.*

---


_Source: https://www.imf.org/-/media/files/publications/pp/2019/ppea2019036.pdf_