## IMF STRATEGY TOWARD MAINSTREAMING GENDER — EXECUTIVE SUMMARY (July 22, 2022)

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### Motivation and Rationale
- Reducing gender disparities in opportunities, outcomes, and decision-making roles raises economic growth and enhances macro-financial stability.
- Closing gender gaps can lower income inequality and increase economic diversification, contributing to growth and resilience.
- Urgent context:
  - Increased fragility from conflicts, the COVID-19 pandemic, and climate change.
  - Fallout from the war in Ukraine resulting in higher food and energy prices.
- Empirical context and recent trends:
  - World Economic Forum Global Gender Gap Report (2021): expected time to close gender gaps worldwide "more than 130 years" (up from about 100 years before the pandemic).
  - Labor force participation (2019 modeled ILO estimate): "53 percent" of women versus "80 percent" of men.
  - Women earned, on average, "75 percent" of what men earn in comparable jobs with the same level of education and experience.
  - Pilot initiative from 2015 to 2019 covered nearly "40 countries" in Article IV discussions.
  - Coverage of gender in country reports declined with the onset of the COVID-19 crisis.
- Institutional response:
  - June 2020: IMF staff took stock and prepared a plan to advance gender work.
  - May 2021: position of Senior Advisor on Gender created in the Office of the Managing Director (OMD).

### Why Gender Fits the IMF Mandate
- Where gender gaps are macro-critical, addressing them fits the IMF’s core functions: surveillance, lending, and capacity development.
- Macro channels of relevance:
  - Economic growth and stability: female labor force participation, labor productivity, financial inclusion.
  - External competitiveness and balance of payments: resilience and diversification of production and exports.
  - Financial stability: women’s participation in financial services and gender diversity in leadership linked to lower non-performing loans and greater banking stability.
  - Private and public sector performance: female managerial and board representation associated with improved firm performance and higher infrastructure spending when women hold political leadership.
  - Income inequality: gender wage gaps contribute directly to higher inequality.

### Vision and Staff Enablement
- Integrate gender into surveillance, lending, and capacity development where gaps are macro-critical.
- Enable IMF staff to:
  - Systematically assess macroeconomic consequences of gender gaps.
  - Evaluate gender-differentiated impacts of shocks and policies.
  - Provide granular and tailored macroeconomic and financial policy advice and capacity development support.

### Strategy: Four Key Pillars
- Empower country teams with access to relevant data, training, and modeling tools for tailored policy advice.
- Establish a robust governance framework and supportive internal organizational structure to ensure coverage based on macro-criticality and consistent treatment across members.
- Establish modalities of collaboration with external partners (e.g., World Bank Group, UN Women) for knowledge sharing and peer learning.
- Efficiently utilize resources allocated to gender to avoid duplication and realize economies of scale.

### Past Work and Operational Experience
- Systematic gender topics in IMF work since about a decade ago (IMF 2013a, 2013b; 2015 commitment to SDGs).
- Pilot initiative (2015–2019): operationalized gender in country work, produced research, and delivered capacity development such as gender budgeting.
- Financial Access Survey (FAS) began collecting gender-disaggregated financial sector data.
- Decline in coverage coincided with COVID-19 crisis and institutional refocusing on emergency assistance.

### Implementation and Sequencing
- Gradual, measured progress given resource availability and need to build staff expertise.
- Roadmap (Section V) sequences mainstreaming across FY23–25 and beyond.
- Organizational steps:
  - Senior Advisor on Gender in OMD to develop and facilitate implementation.
  - Staff team led by Ratna Sahay prepared the strategy.

*IMF STRATEGY TOWARD MAINSTREAMING GENDER — EXECUTIVE SUMMARY (July 22, 2022)*

---

### Drivers of Gender Gaps and Policy Levers

### Drivers of gender gaps
- Unequal access to education, health services, infrastructure, assets, and technology.
- Unequal legal rights.
- Violence against women.
- Unequal distribution of unpaid care and domestic work.
- Cultural factors.

### Policy levers and effectiveness
- Investment-focused policies (education, health, infrastructure, financial inclusion, reducing legal barriers) particularly effective in developing countries.
- Policies addressing unpaid care work, child/elderly care, parental leave, flexible work arrangements, and tax disincentives for secondary earners impactful across advanced and developing economies.
- Effectiveness varies across countries and depends on circumstances.

### IMF role across core functions
- Surveillance:
  - Cover gender gaps in Article IV Consultations when macro-critical for BOP or domestic stability; assessment is case-by-case and limited to areas of IMF expertise.
  - Once macro-criticality is established, bilateral surveillance should cover fiscal, monetary/exchange rate, financial sector policies, and other related policies.
- Lending:
  - If narrowing gender gaps is critical to achieving Fund-supported program objectives or monitoring, issues can be addressed through program design and conditionality, to the extent measures are in the country’s control.
- Capacity development:
  - Technical assistance and training in Fund expertise areas can support members in addressing gender gaps to improve macroeconomic outcomes and stability; particularly impactful when assisting implementation of reforms recommended in surveillance or program design.

---

### Vision for Mainstreaming and Examples

### Guiding principles
- Adhere to IMF mandate by focusing on closing gender gaps that are:
  - (i) macro-critical in surveillance;
  - (ii) critical for Fund-supported program implementation and monitoring;
  - (iii) within the IMF’s areas of expertise for capacity development.
- Provide thought leadership globally while delivering granular, tailored macroeconomic policy advice.
- Maximize on-the-ground impact through collaboration and stakeholder engagement.
- Recognize diversity of lived experience and heterogeneity of impacts.

### Mainstreaming approach examples (Box 1 highlights)
- Personal income tax reforms: remove provisions that discriminate against secondary earners to positively impact female labor force participation, growth, income inequality, and poverty.
- Fiscal measures: safeguard children's education and critical social spending where adjustment disproportionately burdens women.
- Financial sector policy: design gender-responsive policies to mitigate negative impacts of monetary policy on women (e.g., reduced access to credit from higher interest rates).
- Collateral and credit history: allow alternative collateral and ways to build credit histories to mitigate barriers due to inheritance and property rights.
- Subsidy reform: replace costly general fuel subsidies with better targeted social spending to support disadvantaged households and women.

---

### Data, Modeling, and Analytical Toolkit

### Gender Data Hub (scope and details)
- Internal Gender Data Hub offering about "110 headline indicators" in eight topics: (i) access to finance; (ii) composite gender indices; (iii) education; (iv) health; (v) labor and income; (vi) leadership and empowerment; (vii) legal rights; (viii) social, demographic, and other.
- Presented on a Power BI platform, linked to EcOS database and planned migration to iData.
- Data sources: other international organizations (e.g., ILO, OECD, UN, World Bank, WHO), STA’s Financial Access Survey (FAS), and IMF staff research datasets.
- STA allocated "one full-time equivalent (FTE)" in total staff time; receiving contractual resources from augmentation budget in FY23.
- Hub expected to be launched in the "early summer of 2022".
- Key value added: curated macro-relevant data, consistent use across country teams, support evenhandedness.

### Modeling and empirical work
- Evolution from partial equilibrium empirical approaches to life-cycle general equilibrium models with heterogeneous agents over past five years.
- Country applications: Argentina (childcare availability impact), Senegal (female secondary education on labor productivity), Iran, Lao P.D.R., Nigeria, Sierra Leone, United States.
- Planned extensions: include monetary policy, financial sector policies, structural reforms; build toolkit to analyze adjustment-growth relationship; explore synergies with climate change and fintech.
- Complementary empirical approaches: "back of the envelope" calculations where data are scarce.

### Synergies with emerging workstreams
- Climate change:
  - "80 percent" of people displaced by climate change are women (UNDP, 2016).
  - Gender-responsive mitigation and adaptation policies can avoid exacerbating gaps and help ensure women support climate action.
- Digital money and fintech:
  - Women underrepresented in access to formal financial institutions and digital services; barriers include legal discrimination, poverty, lower financial literacy, informal employment.
  - Policies to ensure fintech narrows gender gaps identified as future work.
- Fragile and Conflict-affected States (FCS):
  - Gender inequality can both drive fragility and be exacerbated by fragility-related conditions.
  - Example: increase in female-to-male labor force participation ratio by "1 percentage point" correlated with reduction of probability of electoral violence by around "4.2 percentage points" across Africa (Ouedraogo and Ouedraogo, 2019).

---

### Governance, Macro-criticality, and Country Coverage

### Macro-criticality and surveillance rules
- Coverage in Article IV Consultations based on macro-criticality—whether gender issues significantly influence present or prospective balance of payments or domestic stability.
- Depth of coverage varies across countries and over the Article IV cycle.
- For macro-critical issues:
  - If Fund has expertise: staff analysis and policy advice required.
  - If lacks expertise: staff should analyze drawing on external partners but need not provide specific policy advice.
- For non-macro-critical issues:
  - If Fund has expertise: staff may provide analysis if requested.
  - If lacks expertise: should not provide analysis or advice.

### Country selection and evenhandedness
- Country selection: top-down (central unit selects largest quantitative gaps) and bottom-up (area departments assess macro-criticality and buy-in).
- Benchmarking inputs: UNDP gender inequality index as one input; corroborate with other indices/variables.
- Evenhandedness: ensure uniform treatment across members based on IMF principle of input-based evenhandedness while avoiding one-size-fits-all.

### Organizational arrangements and accountability
- Articulation in Managing Director’s Global Policy Agenda, IMFC communiqué, Board’s Work Program, departments’ Annual Accountability Frameworks.
- Proposed structure:
  - Centralized gender and inclusion unit in SPR to develop frameworks, tools, and ensure consistent treatment.
  - Gender Working Group (rename and refocus existing interdepartmental advisory group).
  - Senior Gender and Inclusion Accountability Group at department-head level for institutional thought leadership and monitoring.

### Internal communications and capacity development
- Strategic communications plan developed jointly by gender and inclusion unit, COM, and OIC.
- Focus: in-reach and outreach, modernize IMF gender site, disseminate gender content, create blogs/videos/podcasts, expand resident office outreach, engage traditional/social media, increase staff participation in events.
- Capacity development: support members’ data collection; formal training seminars by IMF Institute for Capacity Development (ICD).

---

### External Collaboration, Resources, and Central Unit

### External collaboration modalities and partners
- Fund-wide Gender Seminar Series launched December 2021; potential for joint sessions with World Bank and other IFIs/MDBs.
- Partners and planned activities:
  - World Bank Group: joint analytical research and integration of modeling.
  - UN Women: collaboration since 2015; joint peer learning events and courses; planned joint CD and analytical work.
  - EBRD, MDB Working Group on Gender, IFC, regional development institutions for CD and research.
- External funding:
  - Gates Foundation one-year grant of "$1.6 million" approved January 2022 for gender-related work (expand modeling, host conference, produce technical notes, working papers, and a book).
  - Work in low-income countries mainly supported by FCDO.

### Resources: staffing and augmentation
- Staffing baseline:
  - As of FY22: about "18 full-time equivalent staff (FTEs)" across "13 departments" working on gender.
  - FY21: about "11 FTEs" dedicated to gender.
  - Baseline expectation: "19.5 FTEs" dedicated to gender in FY23 (before augmentation).
- Budget augmentation under December 1, 2021 framework:
  - SPR to receive "6 additional FTEs" for gender and inclusion work over FY23–25.
  - Of augmentation, "4" additional FTEs expected to work on gender ("2 each" to be hired in FY23 and FY24).
  - ICD to receive "0.5 FTE" for gender and inclusion in FY23.
  - Hiring of contractuals funded by the Gates Foundation envisaged to develop toolkits for TA/CD.

### Central unit role and staffing profile
- Additional FTEs centralized in gender and inclusion unit in SPR; unit fully functional in first year (FY23) with staffing completed in FY24.
- Functions:
  - Collaborate across departments and with STA on data and scorecards.
  - Produce initial guidance note on implementing strategy.
  - Support country teams with brainstorming, selective reviews, and mission backstopping.
  - Serve as focal point for internal/external collaboration and Secretariat to Gender Working Group and Senior Accountability Group.
- Staffing profile: mostly fungible macroeconomists (not primarily "gender experts"); external hiring of a modeling expert ongoing.

### Resource allocation by activity and timing
- Initial phase (first two years): about three-quarters of additional FTEs dedicated to cross-country activities (policy and analytical tool development).
- Steady state (envisaged FY25 distribution):
  - Country surveillance and programs: "1 FTE" (Existing: "11.7")
  - Capacity Development: "1 FTE" (Existing: "3.9")
  - Analytical and multilateral activities: "2 FTEs" (Existing: "3.9")
  - Other activities: "0.5 FTE" (Existing: "0")
  - Cross-country activities: "2.5 FTEs" (Existing: "3.9")
  - Direct country engagement: "2 FTEs" (Existing: "15.6")
  - Additional: "4.5 FTEs" (Existing: "19.5 FTEs")
  - Note: estimated gender allocation includes "0.5 FTE" allocated to ICD for capacity development.

---

### Country Coverage Strategy and Scenarios

### Deep dives versus light touches
- Trade-off:
  - Deep dives: integrate gender into fiscal, financial, and structural analyses and core policy discussions; resource intensive; feasible initially for a small set of countries; serve as prototypes.
  - Light touches: broader, shallower coverage focused on selected gender issues; start dialogue and assess data gaps; could include basic gender indicators in Selected Economic Indicators Tables.
- Baseline policy: opt for greater depth for fewer countries initially to develop prototypes and frameworks.

### Illustrative coverage scenarios (staff calculations)
- Baseline scenario (deep dives + light touches):
  - Coverage expands from "11 countries" in FY23 to "18 countries" in FY25.
- Light-touches-only (maximum breadth):
  - Coverage increases from "12" to "25 countries" by the third year.
- Deep-dives-only (maximum depth):
  - Coverage limited to "6 to 8 countries" in FY23–25.
- FTE intensity assumptions (steady state):
  - Light touches: "0.1 FTE" per country.
  - Deep dives: "0.3 FTE" per country.

---

### Phased Roadmap, Targets, and Early Actions

### Three-phase implementation sequencing
- Phase 1 (setup and initial engagement; FY23):
  - Establish governance and analytical framework.
  - Central unit updates 2018 How-to-Note; produce initial guidance.
  - Begin country selection and initial engagement.
  - Offer external courses and peer-learning workshops.
  - Model development and internal training.
  - Departments begin gender mainstreaming work plans in Accountability Frameworks.
  - Staff intend to brief Board on implementation status in late FY23.
- Phase 2 (deeper country application):
  - Increased support for in-depth analysis and policy advice; expand macro frameworks and toolkits.
  - Country coverage expected to expand to around "13 countries".
  - Develop structured course on Gender and Macroeconomics, resource permitting.
  - Consider technical briefing to Board at end of Phase 2.
- Phase 3 (stocktaking and wider mainstreaming):
  - Country coverage increases to around "18 countries".
  - Comprehensive stocktaking and review of governance framework; produce full guidance note; report to Board and propose next steps.
  - Gradual resource shift from central unit to area departments as mainstreaming advances.
- Beyond Phase 3:
  - Gradual mainstreaming fully integrated over longer horizon; effectiveness and impact assessed every "five to ten years".

### FY23–FY25 monitorable activity targets (from Figure 12)
- Workshops and missions (annual patterns):
  - "8-12 regional/country gender workshops"
  - "8 gender-specific missions (gender budgeting)"
  - "20-25 missions/countries where gender is considered as part of broader mission"
- Outreach and learning:
  - FY23: "3-4 podcast episodes" on gender with tax administration officials
  - FY24–FY25: "4-5 podcast episodes"
  - Develop and deliver "2-3 external courses" on macroeconomics of gender equality (FY23)
  - FY24–FY25: "2-3 external courses" and "0-2 country-specific or regional missions/workshops"
  - Start developing (with FAD) online EdX course on gender budgeting; internal IET program course "Gender and Macroeconomics" subject to resources
- Capacity development and technical assistance (selected):
  - MCM: "1-3 CD events" annually on gender.
  - STA: "2-4 CD missions" with gender components in FY23 and FY25; "2-3" in FY24.
  - LEG: "2 courses" on fiscal law and gender.
  - ICD tentative: "8 CD Missions" (5 on removing legal impediments; 3 on fiscal law and gender); "4 workshops" (2 on removing legal impediments; 2 on fiscal law and gender).

### Immediate and preparatory actions already underway
- Budget augmentation for inclusion and gender approved December 2021; central unit in SPR to become functional in FY23.
- Early course deliveries and pilots:
  - Two-week course on gender and macroeconomics at Africa Training Institute in January 2022.
  - Course delivery by ICD with AFR and SPR at SARTTAC in February 2022.
  - MCM started a gender-disaggregated data pilot for Financial Sector Stability Reviews.
  - Ongoing departmental workstreams: FAS gender-disaggregated data collection; STA regional workshop on financial access data collection including gender components.
  - Tenth Review of IMF Data Standards Initiatives encourages SDDS and SDDS-plus countries—about "80 members"—to publish labor force participation rates by gender.

---

### Risks, Challenges, and Evaluation

### Risks and mitigation
- Capacity and tools:
  - Concern about insufficient capacity, expertise, data, and tools for granular tailored advice.
  - Standard models historically limited on gender; integrating gender increases workload.
- Mitigation:
  - Robust governance framework and central unit to enhance analytical framework.
  - Draw lessons from prior incorporation of income inequality into models.
  - Collaboration with external partners for knowledge sharing.
  - Staff training on gender analysis, macro-criticality assessment, and evenhandedness.
- Implementation realities:
  - Rigorous analytical work requires time, resources, and acceptance of iterative successes and failures.
  - Proposal for a systematic survey of all "190-member" country authorities and an external evaluation of Fund’s gender work in due course.

### Evaluation and monitoring
- Board briefing on implementation status planned in late FY23.
- Suggestion to assess effectiveness and impact every "five to ten years".
- Staff to develop objective, broad-based criteria to determine macro-criticality consistent with 2022 Comprehensive Surveillance Review Guidance Note.

---

### Key Empirical Findings and Statistics (selected, preserved exact values)
- World Economic Forum Global Gender Gap Report (2021): "more than 130 years" to close gender gaps worldwide.
- Labor force participation (2019 modeled ILO estimate): "53 percent" women vs "80 percent" men.
- Women earn "75 percent" of what men earn in comparable jobs with same education and experience.
- Gender Data Hub: about "110 headline indicators" across eight topics.
- STA allocated "one full-time equivalent (FTE)" to develop the Hub; receiving contractual resources from augmentation budget in FY23.
- FAS gender-disaggregated data:
  - Disaggregated data available for "71 countries" (up from "35 in 2018" to "71 in 2021").
  - Of the "121 series" reported in the FAS, "15" are disaggregated by gender.
- Digital inclusion and access:
  - In sub-Saharan Africa: "27 percent" of women have an account vs "36 percent" of men.
  - In Middle East and Central Asia: "40 percent" of women have an account vs "51 percent" of men.
- Political representation:
  - Asia and Middle East and Central Asia: around "18 percent" in legislative positions in 2019 and around "12 percent" in ministerial-level positions in 2019.
- Legal rights:
  - Women enjoy only "three-quarters" of legal rights of men.
  - Women, Business, and the Law (2021): only "10 countries" score "100".
- COVID-19 impacts:
  - "64 million" women lost their jobs during the pandemic (twice as much as men).
  - Q2 2020 sample: "63 percent" of advanced economies experienced sharper decline in female employment; "88 percent" of emerging markets experienced sharper decline in female employment.
  - Globally, women took on "three times" as many additional hours of childcare as men during the pandemic.
  - Of additional cases of depression and anxiety estimated for 2020, roughly "two-thirds" were women.
  - Across "219 countries and territories": fewer than "20 percent" had a holistic gender-sensitive pandemic response; "15 percent" had no gender-sensitive measures.
  - In task forces across "137 countries": fewer than "5 percent" had gender parity; women made up only "27 percent" of task force members.
- Labor force and part-time work:
  - Part-time employment defined as working less than "30 hours per week".
  - Availability of part-time/flexible arrangements associated with higher female labor force participation.
- Legal and policy examples:
  - OECD average duration for paid maternity leave: "18 weeks"; most countries provide benefits replacing more than "50 percent" of previous earnings.
  - Norway childcare expansion increased mothers’ employment likelihood by "32 percentage points".
  - India’s biometric ID example: between 2014 and 2017, account ownership in India increased by about "27 percent", and gender gap in account ownership narrowed by about "14 percent".
  - Rwanda female labor force participation rate: "84 percent" (compared to global average of around "47 percent").
- Internal IMF gender representation (as of February 2022):
  - Share of managerial level positions held by women: "34 percent".
  - Nearly "40 percent" of Heads of Department posts held by women; "50 percent" of those appointed since October 2019.
  - Fewer than "30" women heads of state; "16" women finance ministers; "13" women central bank governors.
  - Globally, women make up "5 percent" of CEOs in commercial banks and "23 percent" of bank board members.
- Staffing and augmentation specifics:
  - As of FY22: about "18 FTEs" across "13 departments" working on gender.
  - FY21: about "11 FTEs".
  - Baseline FY23 pre-augmentation: expected "19.5 FTEs".
  - Augmentation: SPR to receive "6 additional FTEs" over FY23–25; "4" additional FTEs expected to work on gender ("2 each" in FY23 and FY24); ICD to receive "0.5 FTE" in FY23.
- Coverage scenarios (Section VI assumptions):
  - Baseline Scenario 1: country coverage increases from about "11" in first year to about "18" in third year; deep dives increase from "2" to "3" countries; light touches increase from "9" to "15".
  - Scenario 2 (only deep dives): coverage "6" in first year to about "8" by third year.
  - Scenario 3 (only light touches): coverage "12" in first year to about "25" by third year.

*Source: IMF Strategy Toward Mainstreaming Gender — Background Paper and Executive Summary (ppea2022037).*

### EXECUTIVE SUMMARY

### EXECUTIVE SUMMARY

### Motivation and Rationale
- Reducing gender disparities in opportunities, outcomes, and decision-making roles raises economic growth and enhances macro-financial stability.
- Closing gender gaps can lower income inequality and increase economic diversification, contributing to growth and resilience.
- Many gender gaps are macro-critical because fiscal, monetary, financial, and structural policies can exacerbate or narrow them.
- Attention to gender is urgent due to:
  - Increased fragility from conflicts, the COVID-19 pandemic, and climate change.
  - The fallout from the war in Ukraine resulting in higher food and energy prices, compounding suffering.
- Empirical context and recent trends:
  - The World Economic Forum Global Gender Gap Report (2021) expects it will now take more than 130 years to close gender gaps worldwide, up from about 100 years before the pandemic.
  - Labor force participation (2019 modeled ILO estimate): 53 percent of women versus 80 percent of men.
  - Women earned, on average, 75 percent of what men earn in comparable jobs with the same level of education and experience.
  - A pilot initiative from 2015 to 2019 covered nearly 40 countries in Article IV discussions.
  - Coverage of gender in country reports declined with the onset of the COVID-19 crisis.
- Institutional response:
  - In June 2020, IMF staff took stock and prepared a plan to advance gender work.
  - In May 2021, the position of Senior Advisor on Gender was created in the Office of the Managing Director (OMD).
  - Document date: July 22, 2022.

### Positioning the IMF: Why Gender Fits the Mandate
- Where gender gaps are macro-critical, addressing them falls squarely within the IMF’s core functions of surveillance, lending, and capacity development.
- Gender issues are relevant to macroeconomic and financial performance via multiple channels:
  - Economic growth and stability: via female labor force participation, labor productivity, and financial inclusion.
  - External competitiveness and balance of payments: via greater resilience and diversification of production and exports.
  - Financial stability: women’s participation as users, providers, and regulators of financial services is associated with greater banking stability; gender diversity in leadership is linked to lower non-performing loans.
  - Private and public sector performance: greater representation of women in managerial positions and corporate boards is associated with improved firm performance and with higher infrastructure spending and female educational attainment when women hold political leadership.
  - Income inequality: lower gender gaps are associated with lower income inequality; gender wage gaps contribute directly to higher inequality.

### Vision
- Integrate gender into the IMF’s core activities—surveillance, lending, and capacity development—in accordance with the IMF’s mandate.
- Enable IMF staff to:
  - Systematically assess the macroeconomic consequences of gender gaps where they are macro-critical.
  - Evaluate gender-differentiated impacts of shocks and policies.
  - Provide granular and tailored macroeconomic and financial policy advice and capacity development support.

### Strategy: Four Key Pillars
- The comprehensive strategy to mainstream gender comprises four key pillars:
  - Empower country teams with access to relevant data, training, and modeling tools to conduct analysis and provide tailored and granular policy advice to member countries.
  - Set up a robust governance framework and supportive internal organizational structure to ensure country coverage of macro-critical aspects of gender in country work and a consistent, evenhanded approach across members.
  - Establish modalities of collaboration with external partners to benefit from knowledge sharing and peer learning (working closely with institutions such as the World Bank Group and UN Women to enhance IMF efficiency and leverage impact).
  - Efficiently utilize resources allocated to gender by avoiding duplication of effort and realizing economies of scale.

### Past Work and Operational Experience
- Gender topics have been appearing systematically in IMF work since about a decade ago, including:
  - IMF (2013a) and IMF (2013b) highlighting links between gender, jobs, and growth and urging coverage in surveillance and program work.
  - The Fund’s 2015 commitment to support the 2030 Agenda for Sustainable Development, which includes gender equality.
  - The pilot initiative (2015–2019) operationalized gender in country work, expanded research on gender and macroeconomics and finance, and delivered capacity development such as gender budgeting.
  - The Financial Access Survey (FAS) began to collect gender-disaggregated financial sector data.
- The decline in coverage of gender in country reports coincided with the COVID-19 crisis and an institutional refocusing on emergency assistance.

### Implementation and Sequencing
- Progress is expected to be gradual and measured given resource availability and the need to build an adequate knowledge base and staff expertise.
- The paper provides a roadmap (Section V) to sequence mainstreaming and describes a phased approach across FY23–25 and beyond.
- Key organizational steps taken:
  - Senior Advisor on Gender in OMD to develop and facilitate implementation.
  - Staff team led by Ratna Sahay (Senior Advisor on Gender, Office of the Managing Director) prepared the strategy, with contributions from area and functional departments.

### Paper Organization (high-level)
- Section II positions the Fund on gender in accordance with its mandate.
- Section III outlines the vision for mainstreaming gender at the Fund.
- Section IV lays out a comprehensive strategy covering:
  - A. Key Pillars
  - B. Data and Analytics
  - C. Governance
  - D. External Collaboration
  - E. Resources
  - F. Risks and Challenges to Mainstreaming Gender
- Section V provides a road map for successful mainstreaming.
- Section VI presents next steps and proposed issues for discussion.
- An accompanying Background Paper provides supportive evidence and additional details.

*IMF STRATEGY TOWARD MAINSTREAMING GENDER — EXECUTIVE SUMMARY (July 22, 2022)*

### 13. There are several drivers of gender gaps (Figure 2).

### 13. There are several drivers of gender gaps (Figure 2).

### Drivers of gender gaps
- Unequal access to education, health services, infrastructure, assets, and technology.
- Unequal legal rights.
- Violence against women.
- Unequal distribution of unpaid care and domestic work between men and women.
- Cultural factors.

### Policy levers and effectiveness
- Investment-focused policies to narrow gaps in opportunities—education, health, infrastructure, financial inclusion, and reducing legal barriers—can be particularly effective in developing countries.
- Policies addressing unpaid care work, child/elderly care, parental leave, flexible work arrangements, and tax disincentives for secondary earners can be impactful in both advanced economies and developing countries.
- Effectiveness of economic policies in reducing gender inequality varies across countries and depends on country circumstances.

### IMF role across core functions
- Surveillance:
  - Cover gender gaps in Article IV Consultations when gaps significantly influence present or prospective BOP and domestic stability.
  - Assessment of macro-criticality is case-by-case and limited to areas where the IMF has expertise.
  - Once macro-criticality is established, bilateral surveillance should cover fiscal, monetary/exchange rate, financial sector policies, and other policies related to narrowing gender gaps and promoting women’s economic empowerment.
- Lending:
  - If narrowing gender gaps and supporting women’s economic empowerment are critical to achieving the objectives of a Fund-supported program or monitoring program implementation, these issues can be addressed through program design and conditionality, to the extent measures are in the country’s control.
- Capacity development:
  - Technical assistance and training in areas of Fund expertise can support members in addressing gender gaps to improve macroeconomic outcomes and/or support economic and financial stability.
  - CD is particularly impactful when assisting countries with implementation of reforms in the context of IMF policy advice in surveillance and program design and conditionality.

### Global context and priorities
- The IMF supports global goals consistent with its mandate; achieving gender equality and empowering women and girls is one of the 17 Sustainable Development Goals (SDGs).
- The 2017 Taormina Summit (G7) committed to mainstreaming gender equality in all policies.
- June 2021: IMF Managing Director and several other leaders co-signed a letter urging governments to prioritize gender equality in economic recovery strategies.
- The 2021 Comprehensive Surveillance Review (CSR) recommends systematic integration of macro-relevant gender aspects into surveillance, improving analytical frameworks and access to gender-specific indicators (e.g., female labor force participation, gender disaggregated indicators of financial inclusion), and exploring synergies with climate, digital money, and fragile and conflict-affected states.
- The 2021 Independent Evaluation Report on Growth and Adjustment in IMF-supported Programs calls for deeper coverage of social and distributional implications of programs, including how low-income and vulnerable groups are affected during program periods and benefit from growth over time.

### Comparative advantage and implementation considerations
- The Fund’s core expertise in macroeconomic and financial policies positions it to fill a gap linking gender and macroeconomics and to raise macro-critical gender issues with Ministers of Finance and Central Bank Governors.
- Ensuring ownership of policy advice by country authorities and stakeholders is important and requires collaboration with international and regional partners.

### Vision for mainstreaming gender
- Make gender an integral part of surveillance, lending, and capacity development when gender gaps are assessed to be macro-critical.
- Three guiding principles:
  - Adhere to the IMF mandate by focusing on closing gender gaps that are (i) macro-critical in surveillance; (ii) critical for Fund-supported program implementation and monitoring; and (iii) within the IMF’s areas of expertise for capacity development.
  - Provide thought leadership globally and granular and tailored macroeconomic policy advice to member countries.
  - Focus on maximizing impact on the ground through collaboration with partner institutions and stakeholder engagement.
- Recognize diversity of lived human experience and the need to understand how different circumstances of women and men lead to sub-optimal macroeconomic outcomes.

### Mainstreaming approach and examples
- Integrate gender issues relevant for macroeconomic outcomes into exchange rate, monetary, fiscal, financial, and structural policy discussions while prioritizing domestic and external stability.
- Where recommended or implemented measures widen gender disparities or create adverse distributional effects, include assessment of gender and distributional impacts and mitigating measures (e.g., social spending targeting the most vulnerable).
- Box 1 examples of gender mainstreaming:
  - Personal income tax reforms could consider removing tax provisions that discriminate against secondary earners to positively impact female labor force participation, economic growth, income inequality, and poverty.
  - Fiscal measures may be needed to safeguard children's education and critical social spending where macroeconomic adjustment disproportionately burdens women.
  - Design gender-responsive financial sector policies to mitigate negative impacts of monetary policy on women (e.g., reduced access to credit from higher interest rates).
  - Allow alternative sources of collateral and new ways of building credit histories to mitigate barriers women face in inheritance and property rights and accessing financial services.
  - Replace costly and inefficient general fuel subsidies with better targeted social spending to directly support disadvantaged households and women.

### Current gaps and desired trajectories
- Where we are vs. where we want to go (high-level):
  - Surveillance: from standalone, limited follow-up coverage to an evenhanded, consistent approach based on macro-criticality with granular, integrated advice, follow-up, a centralized data hub, in-house toolkits, and staff training.
  - Lending: from limited selection criteria and follow-up (noting "6 countries over 4 years") to ownership by authorities, tailored conditionality, and follow-up.
  - Capacity Development: from mainly fiscal-focused trainings and workshops to integrated, country-specific CD across macroeconomic and financial policies and gender-disaggregated analysis in existing CD products (e.g., FSSR).
  - Strengthen collaboration with other IFIs, build networks, and systematically seek input.

### Progress, internal representation, and challenges
- Many countries are implementing policies to reduce gender gaps; examples include:
  - Equal pay for equal work (e.g., Iceland, India).
  - Paid maternity or parental leave (e.g., Rwanda, United Arab Emirates).
  - Access to childcare and early childhood education (e.g., Canada, Norway).
  - Improved access to finance through digital platforms/identification and regulatory reforms (e.g., India, Kenya, Pakistan, Peru).
  - Constitutional guarantees of gender equity (e.g., Rwanda, Tunisia).
  - Protections against sexual harassment and discrimination (e.g., Philippines, Saudi Arabia).
  - Measures to prevent domestic violence (e.g., Brazil).
- The number of countries implementing some form of gender-responsive budgeting doubled from 40 in 2002 to 80 in 2017; for OECD countries, from 12 in 2016 to 17 in 2018 (Alonso-Albarran and others, 2021).
- IMF internal representation and leadership:
  - The last two Managing Directors have been women, and two of four current Deputy Managing Directors are women.
  - The share of managerial level positions held by women is 34 percent, as of February 2022.
  - Nearly 40 percent of Heads of Department posts are held by women, and 50 percent of those were appointed since October 2019.
  - At present, there are fewer than 30 women heads of state, only 16 women finance ministers, and only 13 women central bank governors.
  - Globally, women make up just 5 percent of CEOs in commercial banks and 23 percent of bank board members.

### Strategy overview and key pillars
- A successful mainstreaming strategy builds on progress to date and rests on four key pillars:
  - Data and analytics:
    - Create a centralized data hub and deepen analytical and policy tools.
    - Develop easy-to-apply templates, additional model-based tools, and macro-relevant databases to enable tailored, granular policy advice.
    - Offer seminars and training to staff on the tools.
  - Governance:
    - Set up a robust governance framework and internal organizational structure to ensure prioritization based on macro-criticality, evenhanded treatment of members, support to country teams, and departmental accountability.
  - External collaboration:
    - Strengthen collaboration and establish modalities of engagement with other international institutions for knowledge sharing, peer learning, leveraging complementarities, and maximizing on-the-ground impact.
  - Resources:
    - Establish a central unit to realize economies of scale, avoid duplication across departments, and ensure efficient knowledge sharing and learning across departments.

*Italicized source: Content unit: ppea2022037 - 13. There are several drivers of gender gaps (Figure 2).*

### 29. A centralized data hub is envisaged to be a one-stop shop that brings together macro-

### ppea2022037 - 29. A centralized data hub is envisaged to be a one-stop shop that brings together macro-

### Gender Data Hub: scope, sources, and operational details
- The internal Gender Data Hub will offer Fund staff user-friendly access to standardized and comparable gender-related data on a modern data analytics platform.
- The Hub will contain about 110 headline indicators classified into eight topics: (i) access to finance; (ii) composite gender indices; (iii) education; (iv) health; (v) labor and income; (vi) leadership and empowerment; (vii) legal rights; and (viii) social, demographic, and other.
- Data presentation and integration:
  - Data will be presented on a Power BI data analytics platform with options for quick data visualizations.
  - The data will also be linked to an Economic Outlook Suite (EcOS) database and eventually migrated to the new iData platform.
- Data sources to be included:
  - (i) other international organizations (e.g., ILO, OECD, UN, World Bank, WHO, etc.);
  - (ii) STA’s own surveys such as the Financial Access Survey (FAS);
  - (iii) data sets developed as part of Fund staff research projects.
- Complementarities:
  - The World Bank Group’s revamped Gender Data Portal is an important complementary initiative; Bank-Fund coordination will continue to avoid overlap and maximize synergies.
- Resourcing and timeline:
  - STA has already allocated one full-time equivalent (FTE) in total staff time to develop the Hub.
  - STA is receiving contractual resources from the augmentation budget in FY23 to support the gender-related data hub.
  - The Hub is expected to be launched in the early summer of 2022.
- Key value added:
  - Provide staff a curated set of data series collected from various sources and make macro-relevant data easily accessible.
  - Ensure consistent data are used by different IMF country teams and researchers to support evenhandedness in surveillance.

### Modeling, empirical work, and analytical toolkit
- Evolution of analytical approaches:
  - Early work centered on partial equilibrium empirical approaches.
  - Over the past five years, IMF staff have begun to develop life-cycle general equilibrium models with heterogeneous agents suited for a broader range of policy analyses for countries at different levels of development.
- Current and past model applications (country examples):
  - Argentina: estimated how increasing childcare availability would impact female labor force participation and output (IMF Country Report No. 17/410).
  - Senegal: quantified impact of increasing female secondary education on labor productivity (Malta and others, 2019).
  - Other applications include Iran (IMF Country Report No. 18/94), Lao P.D.R. (IMF Country Report No. 19/267), Nigeria (IMF Country Report No. 19/93), Sierra Leone (IMF Country Report No. 20/117), and the United States (Fabrizio and others, 2020).
- Planned extensions:
  - Expand modeling work beyond fiscal policies to include monetary policy interventions, financial sector policies, and structural reforms.
  - Further build a toolkit of models and monitors to analyze the adjustment-growth relationship.
  - Explore synergies with other emerging issues, such as climate change and fintech.
- Complementary empirical approaches:
  - Develop empirical “back of the envelope” calculations to estimate macroeconomic and policy impacts where data are scarce or model calibration is resource-intensive.

### Synergies with other emerging workstreams
- Climate change:
  - An estimated 80 percent of people displaced by climate change are women (UNDP, 2016).
  - Women’s vulnerabilities arise from: (i) social inequalities and cultural norms that shape responsibilities and constrain response during natural disasters; (ii) economic inequalities leading to fewer economic assets and heightened dependence on natural resources and agricultural livelihoods; (iii) greater food insecurity; and (iv) more limited access to finance, education, and healthcare.
  - Gender-responsive policies could be considered in mitigation and adaptation policies to avoid exacerbating gender gaps and help ensure women support climate action.
- Digital money and fintech:
  - Women are underrepresented in access to formal financial institutions and digital financial services, including bank accounts, access to credit, and mobile money systems.
  - Barriers include gender discrimination, legal barriers, higher rates of poverty, lack of financial literacy, and higher likelihood of employment in the informal sector.
  - Policies to ensure fintech narrows gender gaps are identified as potential areas for future work.
- Fragile and Conflict-affected States (FCS):
  - Gender inequality can both drive fragility and be exacerbated by fragility-related conditions (poor governance, underdeveloped infrastructure, reduced access to education and health).
  - The number of female-headed households can increase significantly after war or conflict; targeting female labor force participation can strengthen resilience during transitions and recoveries.
  - Empirical example: Ouedraogo and Ouedraogo (2019) show that an increase in female-to-male labor force participation ratio by 1 percentage point is correlated with a reduction of the probability of electoral violence across the African continent by around 4.2 percentage points.

### Governance, macro-criticality, and country coverage
- Macro-criticality and surveillance:
  - Coverage of gender in Article IV Consultations will be based on the principle of macro-criticality—whether gender issues significantly influence present or prospective balance of payments or domestic stability.
  - Depth of coverage will vary across countries and over each country’s Article IV Consultation cycle depending on macro-criticality and competing priorities.
  - For issues identified as macro-critical:
    - If the Fund has expertise: staff analysis and policy advice are required.
    - If the Fund lacks expertise: staff should analyze the issue drawing on external partners but are not expected to provide specific policy advice.
  - For issues not macro-critical:
    - If the Fund has expertise: staff may provide analysis and policy advice if requested by the member.
    - If the Fund does not have expertise: analysis and policy advice should not be provided.
- Systematic selection process:
  - Country selection will rely on a combination of a top-down and a bottom-up approach:
    - The central unit would select countries with the largest quantitative gaps based on available data.
    - Area departments would determine which countries they intend to cover based on an assessment of macro-criticality and buy-in from country authorities.
    - Strategic considerations and explicit country requests to discuss gender issues during Article IV Consultations will also be considered.
- Benchmarking inputs:
  - An index of gender inequality created by the UNDP could serve as one input for benchmarking gender gaps; higher values indicate greater gender inequality.
  - Other indices or variables should be used in tandem to corroborate evidence on macro-relevant gender disparities.
- Evenhandedness:
  - Staff should ensure uniformity of treatment across member countries based on the IMF’s established principle of input-based evenhandedness while avoiding a “one-size-fits-all” approach.

### Accountability, organizational structure, and institutional arrangements
- Strategic articulation and accountability:
  - The vision for integrating gender should be articulated in the Managing Director’s Global Policy Agenda, the IMFC communiqué, the Board’s Work Program, and departments’ Annual Accountability Frameworks.
  - Semi-annual discussions with Management will allow for reporting and adaptation.
- Proposed supportive organizational structure:
  - A centralized gender and inclusion unit in SPR:
    - Realize scale economies in learning and developing macro frameworks, tools, and data sets.
    - Ensure consistent and evenhanded treatment across member countries.
    - Develop guidance for staff covering both gender and inclusion issues.
  - A Gender Working Group:
    - Rename the existing interdepartmental advisory group on gender.
    - Reconstitute tasks to focus on technical mainstreaming aspects, developing analytical tools and frameworks, discussing ongoing work, and fostering peer learning.
  - A Senior Gender and Inclusion Accountability Group:
    - A senior accountability group at the level of department heads, with regular reporting and interactions with Management, to provide institutional thought leadership and monitor progress.

### Internal and external communications and capacity development
- Communication objectives and channels:
  - Develop a strategic plan jointly by the gender and inclusion unit, the Communications Department (COM), and the Office of Innovation and Change (OIC).
  - Focus areas include:
    - (i) developing in-reach and outreach efforts to encourage uptake by staff and IMF membership;
    - (ii) modernizing the IMF gender site on IMF.org;
    - (iii) disseminating gender content through targeted stakeholder lists;
    - (iv) creating blogs, videos, and podcasts to amplify teams’ analytical research;
    - (v) expanding outreach through local resident representative offices;
    - (vi) engaging with traditional and social media to broaden public awareness and highlight success stories;
    - (vii) increasing Fund staff participation in conferences, workshops, and peer learning events.
  - An important goal is to deepen engagement in regions with higher gender inequality (e.g., the Middle East and North Africa and sub-Saharan Africa) and connect with new demographic groups, particularly the youth.
- Capacity development:
  - CD could be provided to support member countries’ data collection efforts.
  - Formal training seminars would be conducted by the IMF’s Institute for Capacity Development (ICD).

*Source: IMF Strategy Toward Mainstreaming Gender (excerpt).*

### 42. To facilitate knowledge sharing, a new Fund-wide Gender Seminar Series was launched

### 42. To facilitate knowledge sharing, a new Fund-wide Gender Seminar Series was launched

### External collaboration: partners, aims, and modalities
- A new Fund-wide Gender Seminar Series was launched in December 2021; going forward, some sessions could be hosted jointly with the World Bank and other IFIs/MDBs. Seminars could include IMF staff, country authorities, academics, staff from other IFIs/MDBs, the private sector, and CSOs.
- Collaboration objectives and complementarities:
  - Leverage extensive sectoral expertise in institutions such as the World Bank Group (WBG), UN Women, and regional development institutions to complement IMF macroeconomic and financial stability perspectives.
  - Engage external experts in gender and macroeconomics to strengthen the Fund’s analysis.
  - Use collaboration for knowledge sharing, peer learning, and amplified messaging while adhering to institutional mandates.
- Collaboration approach:
  - Initial reliance on informal collaboration at country and central levels; consider formal agreements after learning from informal engagement.
  - Co-host events and informal seminars with partners to increase knowledge sharing frequency and regularity.
  - Include relevant gender-disaggregated data collected by WBG in the proposed new centralized data hub; WBG expressed interest in IMF-created data on financial and fintech sectors.
- Specific partners and activities:
  - World Bank Group: joint analytical research and integration of WBG modeling with IMF gender modeling; Bank-Fund collaboration to be designed consistent with the 2021 Implementation Plan (IMF, 2021d) to strengthen collaboration on macro-structural issues.
  - UN Women: collaboration since 2015; joint peer learning events in Rwanda (2017), Mauritius (2018), Tanzania (2018), Ethiopia (2019), Senegal (2020), Angola (2021), Cambodia (2021), Latin America (2021) and Eastern Europe (2018–22); a two-week course on gender and macroeconomics in January 2022 featured joint participation with UN Women staff. Planned joint work includes: (i) scaling up UN Women work on fiscal and monetary impacts of COVID-19 stimulus packages; (ii) providing joint, tailored CD on gender budgeting; and (iii) expanding analytical research on costing exercises for unpaid care work.
  - EBRD: collaboration on financing inclusion for women-led SMEs, CD, gender-responsiveness of investment climates, and links between legal-barrier analyses and Gender-Responsive Regulatory Impact Assessments.
  - MDB Working Group on Gender: IMF participates in periodic meetings; IMF co-organized sessions on digitalization and fiscal policies for women’s financial and labor market inclusion in the 2022 Summit in May.
  - Other partners: IFC engagement on gender-disaggregated data on financing for SMEs; collaboration with development partners for CD, leveraging IMF Regional Technical Assistance Centers and Regional Training Centers.
- External funding:
  - The Gates Foundation approved a one-year, $1.6 million grant in January 2022 for gender-related work. The project will: (i) expand gender/macro modeling; (ii) host a high-level conference; and (iii) produce technical notes, working papers, and a book on fiscal policies and institutions.
  - Work on gender in low-income countries has been supported mainly by FCDO (Foreign, Commonwealth, & Development Office, United Kingdom).

### Resources: existing stock and augmentation
- Staffing and baseline levels:
  - As of FY22, there are about 18 full-time equivalent staff (FTEs) across 13 departments working on gender.
  - FY21 had about 11 FTEs dedicated to gender.
  - Within the baseline budget envelope (i.e., before augmentation resources), it was expected that 19.5 FTEs would be dedicated to gender in FY23.
- Budget augmentation and allocations:
  - Under the December 1, 2021, Budget Augmentation Framework, SPR will receive 6 additional FTEs for gender and inclusion work over FY23–25.
  - Of the augmentation, 4 of these additional FTEs are expected to work on gender (2 each to be hired in FY23 and FY24).
  - In addition to SPR allocations, ICD will receive 0.5 FTE for gender and inclusion in the FY23 budget round, mainly to develop internal training.
  - Hiring of contractuals funded by the Gates Foundation to develop toolkits for TA/CD is envisaged.

### Central unit: role and staffing profile
- Centralization:
  - Additional FTEs would be centralized in the gender and inclusion unit in SPR; the unit would be fully functional in the first year (FY23) with staffing to be completed in FY24.
- Functions of the centralized unit:
  - Collaborate with other departments and external partners to develop the analytical framework, work with STA on data and designing scorecards to identify countries where gender gaps are large and macro-critical, and contribute to the design of CD activities.
  - Produce an initial guidance note on implementing the gender mainstreaming strategy.
  - Support country teams to develop tailored, country-specific advice via brainstorming sessions, selective gender-focused reviews of country papers, and joining or backstopping area department missions.
  - Serve as focal point for internal and external collaboration and support Management and the Senior Advisor on Gender in in-reach and outreach activities, including running the new Gender Seminar Series and serving as secretariat to the Gender Working Group and the Senior Gender and Inclusion Accountability Group.
- Staffing profile:
  - The unit should be staffed mostly by fungible macroeconomists (not primarily “gender experts”), who will develop mainstreaming expertise over the course of their careers.
  - External hiring of a modeling expert is ongoing to support development of analytical tools and ascertain macro-criticality.

### Resource allocation by activity and timing
- Initial phase (first two years):
  - About three-quarters of the additional FTEs would be dedicated to cross-country activities to develop policy and analytical tools and requisite datasets.
  - Newly developed tools and best-practice country studies will be shared internally and, over time, with country authorities via CD.
- Steady state:
  - As frameworks and models are established, more resources will shift to direct country engagement—surveillance, lending, and CD in area and functional departments.
  - Figure 9 (envisaged FY25 distribution) highlights additional resources by output area:
    - Country surveillance and programs: 1 FTE (Existing: 11.7)
    - Capacity Development: 1 FTE (Existing: 3.9)
    - Analytical and multilateral activities: 2 FTEs (Existing: 3.9)
    - Other activities: 0.5 FTE (Existing: 0)
    - Cross-country activities: 2.5 FTEs (Existing: 3.9)
    - Direct country engagement: 2 FTEs (Existing: 15.6)
    - Additional: 4.5 FTEs (Existing: 19.5 FTEs)
  - Note: Estimated gender allocation within the overall envelope for inclusion/gender approved under the augmentation framework includes 0.5 FTE allocated to ICD for capacity development related to gender and inclusion.

### Country coverage strategy: deep dives versus light touches
- Trade-off and options:
  - Deep dives: integrate gender into fiscal, financial, and structural analyses and core policy discussions; resource intensive and therefore feasible initially only for a small set of countries; serve as prototypes for mainstreaming.
  - Light touches: broader but shallower coverage focused on selected gender issues (typically one sector or topic) to start dialogue and assess data gaps; could include basic gender indicators (e.g., labor market participation by gender) in Selected Economic Indicators Tables.
- Baseline policy:
  - Proposal to opt for greater depth for fewer countries initially to develop prototypes and frameworks with demonstration effects.
  - Six staff reports to date came closest to mainstreaming gender (resource intensive): Argentina (2017), Iran (2018), Nigeria (2019), Lao P.D.R. (2019), Senegal (2019), and Sierra Leone (2020).
- Illustrative coverage scenarios (staff calculations; assumptions in Background Paper Section VI):
  - Baseline scenario (deep dives + light touches): coverage expands from 11 countries in FY23 to 18 countries in FY25.
  - Light-touches-only (maximum breadth): coverage increases from 12 to 25 countries by the third year.
  - Deep-dives-only (maximum depth): coverage limited to 6 to 8 countries in FY23–25.
  - FTE intensity assumptions mentioned: light touches 0.1 FTE per country and deep dives 0.3 FTE per country in the steady state (see Background Paper Section VI for full assumptions).

*Source: ppea2022037 - 42. To facilitate knowledge sharing, a new Fund-wide Gender Seminar Series was launched (IMF PDF excerpt).*

### 63. Early engagement with country authorities and other stakeholders will be critical for

### ppea2022037 - 63. Early engagement with country authorities and other stakeholders will be critical for

### Overview and strategic intent
- Purpose: Integrate a gender lens into the Fund’s core activities—surveillance, lending, and capacity development—where gender gaps are deemed macro-critical, to enhance macroeconomic and financial resilience and promote inclusive economic growth.
- Governance: A central unit in SPR will support country teams, connect them to relevant organizations, think tanks, and CSOs, and help develop analytical frameworks and tools.
- Timeline context: The steady state—when gender is fully mainstreamed—will likely only be reached beyond the three-year timeframe of the medium-term budget framework.

### Immediate engagement and modalities (Box 3)
- Three levels of engagement (not mutually exclusive):
  - Signaling role:
    - Article IV, Financial Sector Stability Review (FSSR), and Financial Sector Assessment Program (FSAP) teams identify and understand the most relevant gender gaps, discuss authorities’ priorities and actions, and consider how the Fund could contribute.
  - Catalytic or convening role:
    - Teams convene stakeholders (line ministries such as finance, economy, gender, labor, health, education, social development), civil society organizations, private sector, and other international/regional organizations to discuss policies through a gender lens.
  - Intellectual leadership role in the macro-financial area:
    - Staff lead analytical work on macro-critical gender areas that contribute to better macroeconomic outcomes; present this work as part of core policy discussions and remain mindful of cultural and societal norms.

### Risks and challenges to mainstreaming gender
- Capacity and tools:
  - Concern that the Fund may lack sufficient capacity, expertise, data, information, and tools to provide granular and tailored advice.
  - Recognition that standard economic models have had little to say about gender; integrating gender could increase the volume of work substantially.
- Mitigation measures:
  - Robust governance framework to ensure adherence to the Fund’s mandate.
  - Investment in a central unit to enhance the analytical framework, drawing lessons from the incorporation of income inequality in standard models.
  - Collaboration with external partners for knowledge sharing.
- Implementation realities:
  - Undertaking rigorous analytical work will require time, resources, deliberation, and acceptance of successes and failures.
  - Staff training needed on gender analysis, identifying gaps, determining macro-criticality, and ensuring evenhandedness.
  - Suggestion of a systematic survey of all 190-member country authorities and an external evaluation of the Fund’s work on gender in due course.

### Phased roadmap and monitorable targets
- Implementation sequencing:
  - Phased implementation over three phases, each spanning one to two years.
  - Progress assessed at each stage based on envisioned deliverables.
  - Board briefing on implementation status planned in late FY23.

- Phase 1 (setup and initial engagement)
  - Governance and analytical framework will be established.
  - The central gender and inclusion unit will update the 2018 How-to-Note (a full guidance note to be produced in Phase 3).
  - Country selection begins; selected country teams start engagement with authorities.
  - Offer external courses on gender and macroeconomics; conduct peer-learning workshops.
  - Model development and internal training (knowledge-sharing and targeted gender clinics).
  - Departments begin gender mainstreaming work plans in Accountability Frameworks.
  - Staff intend to brief the Board on implementation status in late FY23.

- Phase 2 (deeper country application)
  - Increased support to country teams for in-depth analysis and policy advice.
  - Enhance macroeconomic frameworks; some teams apply new frameworks and toolkits with deep dives.
  - Country coverage expected to expand to around 13 countries.
  - Develop a full-fledged structured course on Gender and Macroeconomics, resource permitting.
  - Consider a technical briefing to the Board on analytical work and external collaboration at end of Phase 2.

- Phase 3 (stocktaking and wider mainstreaming)
  - Country coverage increases to around 18 countries.
  - Conduct comprehensive stocktaking exercise and review effectiveness of governance framework to Management.
  - Produce a full-fledged guidance note; report to the Board on mainstreaming experience and propose next steps.
  - Gradual shift of some resources from the central unit to area departments as gender becomes widely mainstreamed.

- Beyond Phase 3
  - Goal: gradually but purposefully mainstream gender fully; recognize it will take time, consistent prioritization, effort, and expertise development.
  - Effectiveness and impact could be assessed every five to ten years.

### FY23–FY25 monitorable activity targets (as summarized from Figure 12)
- Workshops and missions (annual patterns across FY23, FY24, FY25):
  - 8-12 regional/country gender workshops
  - 8 gender-specific missions (gender budgeting)
  - 20-25 missions/countries where gender is considered as part of broader mission
- Outreach and learning:
  - FY23: 3-4 podcast episodes on gender with tax administration officials
  - FY24–FY25: 4-5 podcast episodes on gender with tax administration officials
  - Develop and deliver 2-3 external courses on macroeconomics of gender equality (FY23)
  - FY24–FY25: 2-3 external courses and 0-2 country-specific or regional missions/workshops on macroeconomics of gender equality
  - Start developing (with FAD) online EdX course on gender budgeting; an internal IET program course "Gender and Macroeconomics" developed subject to additional resources
- Capacity development and technical assistance:
  - MCM: 1-3 CD events (bilateral country-tailored or regional workshops) on gender issues annually
  - STA: 2-4 CD missions with gender components (FAS regional workshops/webinars and TA missions for real sector statistics with employment and remuneration matrices by gender) in FY23 and FY25; 2-3 in FY24
  - LEG: 2 courses on fiscal law and gender (including tax and PFM legislation)
  - FAD/ICD tentative CD activities:
    - ICD: 8 CD Missions: 5 on removing legal impediments and incentivizing women's economic empowerment through legal reform; 3 on fiscal law and gender (including tax and PFM legislation)
    - ICD: 4 workshops: 2 on removing legal impediments and incentivizing women's economic empowerment; 2 on fiscal law and gender (including tax and PFM legislation)

### Immediate and preparatory actions already underway
- Board approval context:
  - Budget augmentation for inclusion and gender approved by the Board in December 2021; central unit in SPR to become functional in FY23.
- Early course deliveries and pilots (already undertaken or started):
  - Two-week course on gender and macroeconomics at the Africa Training Institute in January 2022 (developed by AFR and ICD with participation from FAD, SPR, and UN Women).
  - Course delivery by ICD in collaboration with AFR and SPR at SARTTAC in February 2022.
  - MCM started a gender-disaggregated data pilot for Financial Sector Stability Reviews.
  - Ongoing departmental workstreams: FAS gender-disaggregated data collection; STA regional workshop on financial access data collection including gender components.
  - Tenth Review of the IMF Data Standards Initiatives encourages SDDS and SDDS-plus countries—about 80 members—to publish labor force participation rates by gender on the IMF Data Standards Bulletin Board.

### Analytical development, training, and evaluation
- Analytical work:
  - Model development and toolkits to be refined iteratively; staff will need time to experiment and refine models.
  - Collaboration with external partners to enhance analytical quality and share lessons.
- Training and knowledge transfer:
  - Internal training, targeted gender clinics, peer-learning workshops, and external courses envisaged across phases.
- Evaluation:
  - Suggestion for a systematic survey of all 190-member country authorities and an external evaluation of the Fund’s work on gender in due course.
  - Periodic assessment of effectiveness and impact every five to ten years recommended.

### Conclusion and next steps
- Staff will provide tailored and granular policy advice to countries where gender gaps are large and deemed macro-critical to ensure Fund resources are spent where the Fund has authority and can add value.
- Many methodological issues remain to be determined: how to measure gender gaps, assess macro-criticality, and provide evenhanded policy advice.
- Staff will develop objective and broad-based criteria to determine macro-criticality and set up a clear approach to guide evenhandedness, consistent with the principles in the 2022 Comprehensive Surveillance Review Guidance Note.
- Management and staff will engage in outreach and in-reach efforts to encourage buy-in from staff and country authorities; continuous engagement with internal and external stakeholders will be key.
- Monitoring: Implementation will be subject to monitoring; slow-moving outcomes imply long time horizons for impact assessment.

### Issues for discussion
- Do Directors agree with the proposed strategy to help member countries close macro-critical gender gaps to enhance macroeconomic and financial resilience and promote inclusive economic growth?
- Do Directors endorse the proposed collaboration with external partners to benefit from peer learning and knowledge sharing and, thereby, enhance the impact on the ground?
- Do Directors agree with the timeline and sequencing of the strategy implementation?

*Source: IMF Strategy Toward Mainstreaming Gender (excerpts, as provided).*

### References

### References

### Academic and Journal Articles
- Alonso-Albarran, V., T. Curristine, G. Preston, A. Soler, N. Tchelishvili, and S. Weerathunga, 2021, “Gender Budgeting in G20 Countries,” IMF Working Paper 21/269. International Monetary Fund, Washington, DC.
- Bandara, R., 2015, “The Economic Cost of Gender Gaps in Effective Labor: Africa's Missing Growth Reserve,” Feminist Economics, 21(2), 162-186.
- Bertay, A. C., L. Dordevic, and C. Sever, 2020, “Gender Inequality and Economic Growth: Evidence from Industry-Level Data,” IMF Working Paper 20/119. International Monetary Fund, Washington, DC.
- Blanton, R. and S. L. Blanton, 2015, “Is Foreign Direct Investment “Gender Blind”? Women's Rights as a Determinant of US FDI,” Feminist Economics, 21(4), 61-88.
- Busse, M. and P. Nunnenkamp, 2009, “Gender Disparity in Education and the International Competition for Foreign Direct Investment,” Feminist Economics 15(3), 61–90.
- Busse, M. and C. Spielmann, 2006, “Gender Inequality and Trade,” Review of International Economics 14(3), 362–79.
- Caprioli, M., 2005, “Primed for Violence: The Role of Gender Inequality in Predicting Internal Conflict,” International Studies Quarterly, 49(2), 161-178.
- Coleman, I., 2010, “The Global Glass Ceiling,” Foreign Affairs, 89(3), 13–20.
- Cook, L., 2019, “The Innovation Gap in Pink and Black," in Wisnioski, Hintz, and Stettler Kleine, eds. Does America Need More Innovators? Cambridge, MA: The MIT Press.
- Cook, L., J. Gerson, and J. Kuan, 2021, “Closing the Innovation Gap in Pink and Black,” NBER Working Paper 29354, National Bureau of Economic Research.
- Cuberes, D., and M. Teignier, 2016, “Aggregate Effects of Gender Gaps in the Labor Market: A Quantitative Estimate,” Journal of Human Capital, 10(1), 1–32.
- Cuberes, D., and M. Teignier, 2018, “Macroeconomic Costs of Gender Gaps in a Model with Entrepreneurship and Household Production,” The B.E Journal of Macroeconomics, 18(1).
- Dabla-Norris, E., and K. Kochhar, 2019, “Closing the Gender Gap,” Finance and Development, 56(1).
- Demeritt, J., A. Nichols, and E. Kelly, 2014, “Female Participation and Civil War Relapse,” Civil Wars, 16(3), 346–368.
- Doepke, M. and M. Tertilt, 2019, “Does Female Empowerment Promote Economic Development?” Journal of Economic Growth, 24(4), 309–343.
- Duflo, E., 2012, “Women Empowerment and Economic Development,” Journal of Economic Literature, 50(4), 1051–1079.
- Ghosh, J., 2013, “Economic Crises and Women’s Work: Exploring Progressive Strategies in a Rapidly Changing Global Environment,” UN Women, New York.
- Ghosh, J., 2021, “Gender Concerns in Debt Relief,” IIED, London. https://pubs.iied.org/20691iied
- Hsieh, C., E. Hurst, C. Jones, and P. Klenow, 2019, “The Allocation of Talent and U.S. Economic Growth,” Econometrica, 87(5), 1439–1474.
- Jayachandran, S., 2021, “Social Norms as a Barrier to Women’s Employment in Developing Countries,” IMF Economic Review, 69(3), 576–595.
- Klasen, S., 2002, “Low Schooling for Girls, Slower Growth for All? Cross-Country Evidence on the Effect of Gender Inequality in Education on Economic Development,” World Bank Economic Review 16(3), 345–73.
- Mitra, P., E.M.P. Endengle, M. Pant, and L.F. Almeida, 2020, “Does Child Marriage Matter for Growth?” IMF Working Paper 20/27. International Monetary Fund, Washington DC.
- Olusegun, T. S., 2017, “Financial Inclusion and the Role of Women in Nigeria,” African Development Review, 29(2), 249–58.
- Phipps, S.A. and P.S. Burton, 1998, “What’s Mine is Yours? The Influence of Male and Female Incomes on Patterns of Household Expenditure,” Economica, 65(260), 599–613.
- Portes, J., and H. Reed, 2018, “The Cumulative Impact of Tax and Welfare Reforms,” Equality and Human Rights Commission.
- Rock, D., and H. Grant, 2016, “Why Diverse Teams Are Smarter," Harvard Business Review, November 4. https://hbr.org/2016/11/why-diverse-teams-are-smarter, last accessed October 27, 2021.
- Seguino, S., 2000, “The Effects of Structural Change and Economic Liberalization on Gender Wage Differentials in South Korea and Taiwan,” Cambridge Journal of Economics 24(4), 437–459.
- Seguino, S., 2010, “Gender, Distribution, and Balance of Payments Constrained Growth in Developing Countries,” Review of Political Economy 22(3), 373–404.
- Seguino, S., G. Berik, and Y. Rodgers, 2009, “Promoting Gender Equality as a Means to Finance Development,” Friedrich Ebert Stiftung Occasional Paper Series.
- Strøm, R., B. D’Espallier, and R. Mersland, 2014, “Female Leadership, Performance, and Governance in Microfinance Institutions.” Journal of Banking and Finance Vol. 42, 60–75.

### IMF Working Papers, Staff Notes, and Internal Documents
- Alonso-Albarran, V., T. Curristine, G. Preston, A. Soler, N. Tchelishvili, and S. Weerathunga, 2021, “Gender Budgeting in G20 Countries,” IMF Working Paper 21/269. International Monetary Fund, Washington, DC.
- Bertay, A. C., L. Dordevic, and C. Sever, 2020, “Gender Inequality and Economic Growth: Evidence from Industry-Level Data,” IMF Working Paper 20/119. International Monetary Fund, Washington, DC.
- Christiansen, L., H. Lin, J. Pereira, P. Topalova, and R. Turk, 2016, “Gender Diversity in Senior Positions and Firm Performance: Evidence from Europe,” IMF Working Paper 16/50. International Monetary Fund, Washington, DC.
- Christopherson, K., A. Yiadom, J. Johnson, F. Fernando, H. Yazid and C. Thiemann, 2022, “Tackling Legal Impediments to Women’s Economic Empowerment,” IMF Working Paper 2022/37. International Monetary Fund, Washington, DC.
- Čihák, M., and R. Sahay, 2020, “Finance and Inequality,” IMF Staff Discussion Note 20/01. International Monetary Fund, Washington, DC.
- Elborgh-Woytek, K., M. Newiak, K. Kochhar, S. Fabrizio, K. Kpodar, P. Wingender, B. Clements, and G. Schwartz, 2013, “Women, Work, and the Economy: Macroeconomic Gains from Gender Equity,” IMF Staff Discussion Note 13/10. International Monetary Fund, Washington, DC.
- Fabrizio, S., A. Fruttero, D. Gurara, L. Kolovich, V. Malta, M. M. Tavares, and N. Tchelishvili, 2020, “Women in the Labor Force: The Role of Fiscal Policies,” IMF Staff Discussion Note 20/03. International Monetary Fund, Washington, DC.
- Fabrizio S., D. B. P. Gomes, C. Meymdjui, and M. M. Tavares, 2021, “Epidemics, Gender, and Human Capital    in Developing Countries,” IMF Working Paper 2021/266. International Monetary Fund, Washington, DC.
- Gonzales, C., S. Jain-Chandra, K. Kochhar, M. Newiak, and T. Zeinullayev, 2015a, “Catalyst for Change: Empowering Women and Tackling Income Inequality,” IMF Staff Discussion Note 15/20. International Monetary Fund, Washington, DC.
- Gonzales, C., S. Jain-Chandra, K. Kochhar, and M. Newiak, 2015b, “Fair Play: More Equal Laws Boost Female Labor Force Participation,” IMF Staff Discussion Note 15/02. International Monetary Fund, Washington, DC.
- Hakura, D., M. Hussain, M. Newiak, V. Thakoor, and F. Yang, 2016, “Inequality, Gender Gaps and Economic Growth: Comparative Evidence for Sub-Saharan Africa,” IMF Working Paper 16/111. International Monetary Fund, Washington, DC.
- International Monetary Fund, 2012, “Integrated Surveillance Decision (ISD),” Decision no. 15203–(12/72), July 18, Washington, DC.
- International Monetary Fund, 2013a, “Jobs and Growth: Analytical and Operational Considerations for the Fund,” IMF Board Paper, March, Washington, DC.
- International Monetary Fund, 2013b, “Guidance Note on Jobs and Growth Issues in Surveillance and Program Work,” IMF Policy Document, Washington, DC.
- International Monetary Fund, 2015a, “Financing for Development—Revisiting the Monterrey Consensus,” IMF Policy Paper, Washington, DC.
- International Monetary Fund, 2015b, “Guidance Note for Surveillance under Article IV Consultations,” IMF Policy Paper, Washington, DC.
- International Monetary Fund, 2020, “International Monetary Fund Collaboration with the World Bank on Macro-Structural issues,” Independent Evaluation Office, Evaluation Report, Washington, DC.
- International Monetary Fund, 2021a, “2021 Comprehensive Surveillance Review—Overview Paper,” IMF Board Paper, Washington, DC.
- International Monetary Fund, 2021b, “2021 Comprehensive Surveillance Review—Background Paper on The Surveillance Priority Ensuring Economic Sustainability,” IMF Board Paper, Washington, DC.
- International Monetary Fund, 2021c, “Growth and Adjustment in International Monetary Fund-Supported Programs,” Independent Evaluation Office, Evaluation Report, Washington, DC.
- International Monetary Fund, 2021d, “Implementation Plan in Response to the Board Endorsed Recommendations from the IEO Evaluation Report on IMF Collaboration with the World Bank on Macro-Structural Issues,” IMF Policy Paper, Washington, DC.
- International Monetary Fund, 2022, “Guidance Note for Surveillance Under Article IV Consultations,” IMF Board Paper, SM/22/121, Washington, DC.
- Khera, P., S. Ng, S. Ogawa, and R. Sahay, 2021, “Is Digital Financial Inclusion Unlocking Growth?” IMF Working Paper 21/167. International Monetary Fund, Washington, DC.
- Khera, P., S. Ogawa, R. Sahay, and M. Vasishth, 2022, “Women and Fintech: Are Gender Gaps Closing?” IMF Working Paper, forthcoming. International Monetary Fund, Washington, DC.
- Kazandjian, R., L. Kolovich, K. Kochhar, and M. Newiak, 2016, “Gender Equality and Economic Diversification,” IMF Working Paper 16/140. International Monetary Fund, Washington, DC.
- Kochhar, K., S. Jain-Chandra, and M. Newiak eds., 2017, Women, Work, and Economic Growth: Leveling the Playing Field. International Monetary Fund, Washington, DC.
- Malta, V., A. Martínez Leyva, and M. Mendes Tavares, 2019, “A Quantitative Analysis of Female Employment in Senegal,” IMF Working Paper 19/241. International Monetary Fund, Washington, DC.
- Ostry, J., J. Alvarez, R. Espinoza, and C. Papageorgiou, 2018, “Economic Gains from Gender Inclusion: New Mechanisms, New Evidence,” IMF Staff Discussion Note 18/06. International Monetary Fund, Washington, DC.
- Ouedraogo, R. and I. Ouedraogo, 2019, “Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women,” IMF Working Paper 19/174. International Monetary Fund, Washington, DC.
- Ouedraogo, R., and D. Stenzel, 2021, “The Heavy Economic Toll of Gender-based Violence: Evidence from Sub-Saharan Africa,” IMF Working Paper 2021/277. International Monetary Fund, Washington, DC.
- Petersson, B., R. Mariscal, and K. Ishi, 2017, “Women Are Key for Future Growth: Evidence from Canada,” IMF Working Paper 17/166. International Monetary Fund, Washington, DC.
- Sahay, R., A. Barajas, M. Čihák, A. Kyobe, S. Mitra, Y. N. Mooi, P. N’Diaye, and S. R. Yousefi, 2015, “Financial Inclusion: Can It Meet Multiple Macroeconomic Goals?” IMF Staff Discussion Note 15/17. International Monetary Fund, Washington, DC.
- Sahay, R. and M. Čihák, 2018, “Women in Finance: A Case for Closing the Gap,” IMF Staff Discussion Note 18/005. International Monetary Fund, Washington, DC.
- Sahay, R, M. Čihák, P. Khera, and S. Ogawa, forthcoming, 2022, “Women and Finance in the Post-COVID World,” IMF Staff Discussion Note. International Monetary Fund, Washington, DC.
- Fabrizio S., D. B. P. Gomes, C. Meymdjui, and M. M. Tavares, 2021, “Epidemics, Gender, and Human Capital    in Developing Countries,” IMF Working Paper 2021/266. International Monetary Fund, Washington, DC.

### Institutional Reports, Books, and Other Publications
- Demery, L., and I. Gaddis, 2009, “Social Spending, Poverty, and Gender Equality in Kenya: A Benefit Incidence Analysis,” Deutsche Gesellschaft for Technische Zusammenarbeit, Nairobi.
- Elborgh-Woytek, K., M. Newiak, K. Kochhar, S. Fabrizio, K. Kpodar, P. Wingender, B. Clements, and G. Schwartz, 2013, “Women, Work, and the Economy: Macroeconomic Gains from Gender Equity,” IMF Staff Discussion Note 13/10. International Monetary Fund, Washington, DC.
- Fabrizio, S., A. Fruttero, D. Gurara, L. Kolovich, V. Malta, M. M. Tavares, and N. Tchelishvili, 2020, “Women in the Labor Force: The Role of Fiscal Policies,” IMF Staff Discussion Note 20/03. International Monetary Fund, Washington, DC.
- Ghosh, J., 2013, “Economic Crises and Women’s Work: Exploring Progressive Strategies in a Rapidly Changing Global Environment,” UN Women, New York.
- Gonzales, C., S. Jain-Chandra, K. Kochhar, M. Newiak, and T. Zeinullayev, 2015a, “Catalyst for Change: Empowering Women and Tackling Income Inequality,” IMF Staff Discussion Note 15/20. International Monetary Fund, Washington, DC.
- Gonzales, C., S. Jain-Chandra, K. Kochhar, and M. Newiak, 2015b, “Fair Play: More Equal Laws Boost Female Labor Force Participation,” IMF Staff Discussion Note 15/02. International Monetary Fund, Washington, DC.
- Malta, V., A. Martínez Leyva, and M. Mendes Tavares, 2019, “A Quantitative Analysis of Female Employment in Senegal,” IMF Working Paper 19/241. International Monetary Fund, Washington, DC.
- Ouedraogo, R., and D. Stenzel, 2021, “The Heavy Economic Toll of Gender-based Violence: Evidence from Sub-Saharan Africa,” IMF Working Paper 2021/277. International Monetary Fund, Washington, DC.
- Portes, J., and H. Reed, 2018, “The Cumulative Impact of Tax and Welfare Reforms,” Equality and Human Rights Commission.
- UN Women, 2021, “Measuring the Shadow Pandemic: Violence Against Women During COVID-19.”
- United Nations Development Programme (UNDP), 2016, “Overview of Linkages Between Gender and Climate Change,” UNDP Policy Brief, New York, NY.
- Woetzel, J., A. Madgavkar, K. Ellingrud, E. Labaye, S. Devillard, E. Kutcher, J. Manyika, R. Dobbs, and M. Krishnan, 2015, “The Power of Parity: How Advancing Women’s Equality Can Add $12 Trillion to Global Growth,” McKinsey Global Institute.
- World Bank, 2015, “Women, Business, and the Law 2015 Report,” Washington, DC.
- World Economic Forum, 2021, “Global Gender Gap Report: 2021.”

### Country- and Region-Specific Studies and Analyses
- Bandara, R., 2015, “The Economic Cost of Gender Gaps in Effective Labor: Africa's Missing Growth Reserve,” Feminist Economics, 21(2), 162-186.
- Demery, L., and I. Gaddis, 2009, “Social Spending, Poverty, and Gender Equality in Kenya: A Benefit Incidence Analysis,” Deutsche Gesellschaft for Technische Zusammenarbeit, Nairobi.
- Malta, V., A. Martínez Leyva, and M. Mendes Tavares, 2019, “A Quantitative Analysis of Female Employment in Senegal,” IMF Working Paper 19/241. International Monetary Fund, Washington, DC.
- Olusegun, T. S., 2017, “Financial Inclusion and the Role of Women in Nigeria,” African Development Review, 29(2), 249–58.
- Ouedraogo, R. and I. Ouedraogo, 2019, “Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women,” IMF Working Paper 19/174. International Monetary Fund, Washington, DC.
- Ouedraogo, R., and D. Stenzel, 2021, “The Heavy Economic Toll of Gender-based Violence: Evidence from Sub-Saharan Africa,” IMF Working Paper 2021/277. International Monetary Fund, Washington, DC.
- Petersson, B., R. Mariscal, and K. Ishi, 2017, “Women Are Key for Future Growth: Evidence from Canada,” IMF Working Paper 17/166. International Monetary Fund, Washington, DC.

*Source: References section of "IMF Gender Mainstreaming Strategy—Background Paper" (ppea2022037 - References).*

### SECTION I: IMF'S ENGAGEMENT ON GENDER:

### SECTION I: IMF'S ENGAGEMENT ON GENDER: STOCKTAKING

### A. Evolution of Gender Work at the IMF
- Gender-related topics began to systematically appear in the Fund’s work program a decade ago.
- Key milestones and initiatives:
  - 2013: IMF Board paper (IMF, 2013a) presented empirical findings that narrowing gender gaps is essential for high employment and growth; IMF (2013b) discussed coverage in surveillance and lending.
  - 2015: Fund committed to supporting member countries in pursuing the 2030 Development Agenda, which included addressing gender inequality (IMF, 2015a, 2015b).
  - 2015: Global study on gender budgeting undertaken, supported by the UK Department for International Development (DFID). The organization has been renamed UK Foreign, Commonwealth & Development Office (FCDO).
  - 2017: IMF (2017a) set out a framework for the Fund’s capacity development (CD) work on gender budgeting.
  - 2015–2019: A pilot initiative operationalized gender in country work, producing studies covering 39 countries and informing how-to guidance and the notion of macro-criticality as the basis for coverage.
  - Around 2015–2019: IMF began collecting gender-disaggregated financial sector data as part of the Financial Access Survey (FAS).
  - 2015: An advisory group on gender was created; its role was formalized in late 2019 with nominated chairs and departmental representatives.
  - COVID-19 response: After an initial refocus on emergency assistance, attention to gender issues resumed and contributed to development of the Board paper “IMF Strategy Toward Mainstreaming Gender.”

### B. Multilateral Surveillance
- Cross-country studies and topics covered:
  - Female labor force participation: trends, drivers, sub-groups (youth), and policy levers including removing legal barriers (Ahn and others, 2019; Elborgh-Woytek and others, 2013; Fabrizio and others, 2020; Gonzales and others, 2015a; Christiansen and others, 2016).
  - Macroeconomic and financial impact of gender diversity: positive macroeconomic consequences beyond labor force expansion; benefits for both men and women (Ostry and others, 2018); greater inclusion of women in financial sector can foster financial stability (Sahay and others, 2018; Sahay and others, forthcoming, 2022); as financial inclusion improves, steps needed to manage associated financial stability risks (Sahay and others, 2015).
  - New technologies and gender gaps: impacts on employment and wages and required policy responses (Brussevich and others, 2018).
  - Gender gaps and income inequality: associations across dimensions including financial inclusion (Gonzales and others, 2015b; Čihák and Sahay, 2020).
  - Gender budgeting: design and use of tax and expenditure policies and public financial management instruments to address gender inequality and advance women in education, health, and economic empowerment (Kolovich, 2018; IMF, 2017a).
- IMF flagship reports and gender:
  - Gender-sensitive analysis rarely the primary focus of flagship reports; typically covered within labor markets, financial/digital inclusion, or inequality and inclusive growth.
  - Over the past five years, gender was covered as part of broader issues in the World Economic Outlook (WEO) (IMF, 2018b; IMF, 2020; IMF 2021a) and in the Fiscal Monitor (IMF, 2017b and IMF, 2021b).
  - Gender has not yet been featured in the GFSR.
  - Text analysis shows gender equality mentioned less often than climate, inequality, and digital currency.
  - COVID-19 crisis prompted flagship publications to recognize disproportionate impact on women (IMF, 2020; IMF, 2021a; IMF, 2021b).
  - Regional Economic Outlooks have similarly showcased gender.
  - Going forward: including gender analysis in flagship reports can signal relevance to country teams and authorities.

### C. Country-Level Engagement
- Surveillance (Bilateral)
  - Since 2015, coverage of gender in bilateral surveillance increased, though depth varied and often not fully integrated into core policy discussions.
  - Gender featured in more than 80 Article IV staff reports since 2015, covering more than 40 countries to date, primarily through the 2015–19 pilot initiative. Labor force participation was the main angle.
  - Analysis typically remained at arm’s length from core macroeconomic diagnostics driving policy discussions; notable exception: sub-Saharan Africa where engagement has been more systematic and effective.
  - Examples (Box 1):
    - Canada (2021 Article IV): box analyzing severity of women’s job losses and projected recovery in female labor force participation; noted Canada-wide early learning and childcare system as positive for increasing female labor force participation.
    - Italy (2020 Article IV): quantified gender gaps to advise on reducing tax wedge on secondary earners and enhancing child and elder care services.
    - Senegal (2018 SIP): “Gender Gaps in Senegal: From Education to Labor Market” highlighted macroeconomic benefits from reducing gender gaps in secondary and tertiary education and labor market barriers.
    - Mexico (2019 Article IV): box on gender gaps noting parity in education/politics but low female labor force participation; concerns about cancelation of childcare subsidies.
    - Japan (2019 Article IV): extensive analysis of child-friendly policies; case study of Nagi-town; policy advice to strengthen firm incentives to support women.
  - Collaboration and traction:
    - Early engagement with authorities and Executive Directors increased traction of IMF advice.
    - Collaboration with external partners (donors, World Bank Group, UN Women) leveraged expertise/resources and coordinated policy messages.

- Lending
  - Engagement on gender within IMF-supported programs limited: six countries engaged, typically focused on macro-structural issues with conditionality as structural benchmarks (Box 2).
  - These IMF-supported programs did not include structural benchmarks on gender in subsequent reviews.
  - More systematic approaches in some cases:
    - Niger: comprehensive reviews in Sub-Saharan Africa prior to selecting Niger for enhanced engagement; country team focused on gender equality and included a structural benchmark on developing a gender equality strategy.
    - Lesotho: frequent interdepartmental discussions and coordination improved policy advice and traction; leveraging external resources (UN Women, in-country partners) useful where staff lacked know-how.
  - Program examples (Box 2):
    - Argentina: 2018 Stand-by Arrangement MEFP commitments to improve female labor force participation via tax policy reforms, promoting equal pay, more equal paternity/maternity leave, publishing gender-disaggregated data, and reducing gender-based violence.
    - Egypt: 2016 EFF MEFP commitments to improve female labor force participation by increasing availability/quality of pre-school childcare and improving public transport safety.
    - Jordan: 2020 EFF MEFP labor law reforms to increase female labor force participation, including lifting working hour restrictions, mandating employer-provided daycare, improving public transportation; included a structural benchmark on issuing by-laws/instructions aimed at increasing access to affordable childcare.
    - Pakistan: 2016 SIP well-received; 2019 EFF introduced three structural benchmarks to address gender gaps in school attendance and financial inclusion.
    - São Tomé and Príncipe: 2019 ECF structural benchmark on developing a national gender equality strategy; collaboration with Ministries, UN agencies, Gender Institute, and external funding for two experts to build capacity; MEFP commitment in second review to introduce a gender budgeting pilot and publish gender-disaggregated statistics on wages and managerial positions.

- Capacity Development (CD)
  - Tailored CD is gaining traction in response to authorities’ requests.
  - Technical assistance provided to strengthen institutional capacity for gender budgeting in: Albania, Costa Rica, Egypt, Ethiopia, and Togo. A scoping mission on gender budgeting conducted in Nigeria.
  - 2021 CD missions delivered to Cameroon, South Africa, and The Gambia; followed by a regional workshop in Central Africa.
  - Planned CD efforts: Cambodia, Costa Rica, Lesotho (in consultation with UN Women), and Togo.
  - IMF collaboration with TADAT Secretariat released podcasts on gender and revenue administration.
  - Efforts to mainstream gender include raising awareness and gathering information during diagnostic missions.
  - External seminars, trainings, and workshops:
    - IMF delivered 19 workshops on gender budgeting, often with multilateral agencies such as UN Women.
    - Joint Vienna Institute’s (JVI) course is in its fourth year.
    - 2020: first workshops on gender economics delivered at the Africa Training Institute (ATI) and JVI.
    - February 2022: two-week course on gender and macroeconomics developed jointly with UN Women at ATI and SARTTAC.
    - Two external courses for authorities planned for the current fiscal year: one at ATI and another at the IMF's Middle East Center for Economics and Finance (CEF).
    - Peer learning events held in Rwanda (2017), Mauritius (2018), Tanzania (2018), Ethiopia (2019), Senegal (2020), Angola (2021), Cambodia (2021), and Latin America (2021).
    - Anglophone and Lusophone workshops on the impact of COVID-19 held with UN Women in 2020.
  - Internal training and peer-learning:
    - Internal training courses being developed for IMF staff covering female labor supply, link from gender inequality to growth and inclusion, and gender budgeting.
    - August 2021 seminar: “Women, Wealth Effects, and Slow Recoveries.”
    - Gender budgeting course featured World Bank, UN Women, and finance/line ministry speakers from sub-Saharan Africa covering gender needs and impact assessments, fiscal planning and gender strategies, gender statements, budget circular inclusion, gender-disaggregated statistics, and monitoring and evaluation.
    - Internal peer-learning seminars and targeted gender clinics offered to Fund economists and mission chiefs working on macro-critical gender issues:
      - First peer-learning session: January 2022, focused on mainstreaming gender into surveillance with lessons from India, Japan, Mauritius, Rwanda, and Sierra Leone.
      - Second session: March 2022, on approaching gender in capacity development, drawing on IMF support for gender budgeting initiatives.
      - Third session: scheduled for early fiscal year 2023 (FY23), to cover incorporating gender into IMF programs, focusing on past experiences with designing gender-related structural benchmarks and MEFP commitments.
      - FY23 internal training program includes two clinics on Macroeconomics and Gender Equality.

### D. Data and Toolkits
- Financial Access Survey (FAS):
  - FAS established in 2009 as a unique source of annual supply-side data on access to and the use of basic financial services.
  - After two pilot gender-disaggregated data collections, the Statistics Department (STA) mainstreamed gender-disaggregated data as part of the regular FAS data collection in 2018.
  - Data disaggregated by gender are available for both commercial banks and microfinance institutions for 71 countries, half of which are developing countries.
  - Of the 121 series reported in the FAS, 15 are disaggregated by gender.
  - Number of countries reporting gender-disaggregated data to the FAS doubled from 35 in 2018 to 71 in 2021.
  - Close to half of the gender data reported in the FAS are low- and lower middle-income countries, including 21 fragile and conflict-affected states.

*Prepared by Valentina Flamini, Lisa Kolovich, Baoping Shang (all SPR), and Irene Yackovlev (COM).*

### 16.      The IMF is working on developing a gender data hub, a one-stop shop of macro-

### 16.      The IMF is working on developing a gender data hub, a one-stop shop of macro-relevant gender data series

### Gender data hub: purpose and design
- Initial launch to present curated gender data series from existing data sources to address the most common demands from IMF staff, identified through departmental consultations and guided by relevant policy questions.
- Will offer user-friendly access to gender-related indicators on a modern data analytics platform.
- Will be linked to the Economic Outlook Suite (EcOS) database to enable smooth integration of gender data into the work of Fund economists.
- Centralized access to external data sources through the gender data hub is intended to:
  - increase efficiency,
  - avoid duplicate efforts by country teams to collect gender-related data from various sources,
  - ensure consistency in gender-related data use across country teams.
- Longer-term possibility: data hub could be developed into a data dashboard with accessibility by external users if there is a clear business case to do so.

### Complementary tools and resources
- Two gender budgeting toolkits:
  - First toolkit:
    - Provides data for 70 case studies on gender budgeting efforts.
    - Includes two time-consistent indices of gender equality spanning 1990–2013 and covering most countries in the world.
    - Can be used to investigate relationships between policy implementation and the gender equality indices.
  - Second toolkit:
    - Consists of a database built from an extensive survey of country authorities on their gender budgeting efforts.
    - Allows for cross-country comparisons on the different components of gender budgeting.
- General equilibrium models and planned toolkit:
  - Staff are developing general equilibrium models to examine the impact of macroeconomic and financial policies on female and male employment and economic growth, and their fiscal implications.
  - Over the past five years, IMF staff have developed life-cycle general equilibrium models with heterogeneous agents suited for investigating a broad range of policies and countries, applied in several studies under the pilot initiative on gender.
  - Staff plan to build on these models to develop a user-friendly toolkit to support country teams in analyzing gender.

### Key statistics and empirical findings on gender disparities (selected)
- Human capital and education:
  - Gender gaps in access to education have been shrinking across all regions and income groups, but gender disparities in literacy persist.
  - UNESCO (2017) across 115 countries: female students tend to enroll less in technology, engineering, manufacturing and construction areas and more in education, health and welfare, arts and humanities, and social sciences.
- Access to finance:
  - In sub-Saharan Africa: 27 percent of women have an account compared to 36 percent of men.
  - In Middle East and Central Asia: 40 percent of women have an account compared to 51 percent of men.
  - Women entrepreneurs face more restrictive collateral requirements, shorter maturity of loans, and higher interest rates than men.
- Fintech:
  - Overall, gender gaps for fintech-driven financial inclusion are slightly lower than for traditional financial inclusion.
- Labor market outcomes:
  - About 50 percent of working-age women participate in the labor force, compared to 80 percent for men.
  - OECD gender wage gap (median earnings of female vs male full-time employees):
    - 11.6 percentage points in 2020.
    - 18 percentage points in 2000.
  - Women in managerial positions (where data available):
    - Middle East and Central Asia increased from 17 percent to 27 percent from 2009 to 2019.
    - Western Hemisphere increased from 37 percent to 40 percent from 2009 to 2019.
    - Sub-Saharan Africa increased from 33 percent to 35 percent from 2009 to 2019.
- Political representation:
  - Asia and Middle East and Central Asia have the lowest proportions:
    - Around 18 percent in legislative positions in 2019.
    - Around 12 percent in ministerial-level positions in 2019.
- Legal barriers:
  - Women enjoy only three-quarters of legal rights of men.
  - The 2021 Women, Business, and the Law index (190 countries) finds only 10 countries score 100 (i.e., no de jure forms of gender discrimination).

### Impact of the COVID-19 crisis on gender inequalities
- Job losses and employment:
  - Globally, 64 million women lost their jobs during the pandemic (twice as much as men).
  - From a sample of advanced economies and emerging markets, in Q2 2020:
    - 63 percent of advanced economies experienced a sharper decline in female employment than in male employment.
    - 88 percent of emerging markets experienced a sharper decline in female employment than in male employment.
- Unpaid work, care, and mental health:
  - Globally, on average, women took on three times as many additional hours of childcare than men during the pandemic.
  - Of the additional cases of depression and anxiety estimated for 2020, roughly two-thirds were women.
- Violence and safety:
  - Nearly one in two women reported that they or a woman they know experienced violence during the pandemic.
- Policy response and governance:
  - Across 219 countries and territories:
    - Fewer than 20 percent had a holistic gender-sensitive pandemic response.
    - 15 percent had no gender-sensitive measures.
  - In task forces across 137 countries:
    - Fewer than 5 percent had gender parity.
    - Women made up only 27 percent of task force members.
- Heterogeneity in impacts:
  - IMF (2022) documents variation across EU countries: men in Germany, Portugal, and the United Kingdom experienced larger declines in employment compared to women; in Finland, Hungary, Iceland, and Romania, women were more negatively affected.
  - The "she-cession" persisted longer in emerging markets than in advanced economies.

### Macro-criticality and policy relevance
- Improving gender disparities in outcomes, opportunities, and decision-making can raise economic growth and enhance macro-financial stability.
- Closing gender gaps can help lower income inequality and increase economic diversification, contributing to economic growth and macroeconomic resilience.
- Many gender gaps are macro-critical; macroeconomic and financial shocks and policies can exacerbate or narrow them.

*IMF GENDER MAINSTREAMING STRATEGY—BACKGROUND PAPER*

### 33.      A growing literature confirms the macroeconomic impact of gender gaps through

### ppea2022037 - 33.      A growing literature confirms the macroeconomic impact of gender gaps through

### Macroeconomic impacts of gender gaps
- Economic growth and stability
  - Boosting female labor force participation can stimulate economic growth and stability (Ostry and others, 2018; Petersson and others, 2017; Woetzel and others, 2015; Caprioli, 2005; Demeritt and others, 2014; Cuberes and Teignier, 2016 and 2018; Bandara, 2015; Gonzales and others, 2015b; Hakura and others, 2016).
  - As women enter the labor market, labor productivity would benefit from a better skill match; without restrictions on access to education and female labor force participation, women would have acquired different skills that better match their talent.
  - In the U.S., between 20 to 40 percent of per-capita output growth during 1960–2010 can be explained by better allocation of talent and falling barriers to human capital accumulation, with women accounting for most of the effect (Hsieh and others, 2019).
  - Cross-country evidence suggests higher gender equality translates into higher labor productivity (Bertay and others, 2020).
  - Reducing gaps in access to nutrition, education, and healthcare can help build human capital (Klasen, 2002), but this requires a corresponding increase in female labor force participation.
  - Innovation is hindered by gender gaps at every step from education to commercialization; more diverse and mixed-gender teams show better outcomes (Rock and Grant, 2016; Cook, 2019; Cook and others, 2021).
  - Gender gaps in entrepreneurship are negatively associated with aggregate productivity and income; gender gaps in entrepreneurship cause an average income loss of 6 percent in the OECD, with potentially higher losses in developing countries (Cuberes and Teignier, 2016).
  - Greater financial inclusion is associated with higher economic growth, particularly in countries with lower overall levels of financial inclusion (Sahay and others, 2015).

- External competitiveness and balance of payments
  - In countries with higher gender inequality, the variety of goods that countries produce and export is constrained, particularly in low-income and developing economies (Kazandjian and others, 2016).
  - Two channels: (1) gender gaps in opportunity (e.g., lower education enrollment for girls) constrain the pool of human capital; (2) gender gaps in labor and financial markets impede development of new ideas by decreasing labor efficiency and entrenching informality.
  - Structural rigidities from gender inequality affect productive capacity, adaptability to shocks, and prospective balance of payments stability. Increasing equality of opportunities could improve productivity, flexibility, diversification, and resilience.

- Financial stability
  - Greater inclusion of women as users, providers, and regulators of financial services lowers gender inequality and fosters banking system stability (Olusegun, 2017; Sahay and others, 2018).
  - Women in leadership and greater board diversity in financial institutions and fintech companies, as well as banking supervision agencies, are associated with lower non-performing loans and greater financial stability (Sahay and Čihák, 2018; Khera and others, 2022, forthcoming; Strøm and others, 2014).

- Private and public sector performance
  - Greater representation of women in managerial positions and corporate boards is positively associated with firm performance (Christiansen and others, 2016).
  - Evidence that fintech companies headed by women bring in more revenues (Khera and others, 2022, forthcoming; Sahay and others, 2022, forthcoming).
  - Women’s political leadership is associated with greater infrastructure spending and educational attainment of girls (Duflo, 2012).
  - Unequal representation in leadership both stems from and contributes to other drivers of gender disparities.

- Income inequality
  - Reducing gender gaps could help reduce income inequality and improve social stability and economic growth (Gonzales and others, 2015a).
  - Both men and women benefit from financial inclusion, but inequality falls more when women have greater access (Čihák and Sahay, 2020).
  - Gender wage gaps directly contribute to income inequality; policies addressing gender inequality benefit women in low-income households the most and reduce income inequality.
  - Reducing gender gaps in school enrollment and expanding healthcare increases the likelihood for girls from poor households to receive education, increasing their lifetime earnings potential (Demery and Gaddis, 2009).

### Factors contributing to gender gaps
- Legal barriers, violence against women, and child marriage contribute to gender gaps in human capital development and labor force participation.
- Legal impediments can prevent women from heading a household, pursuing a profession, or owning or inheriting assets, limiting formal labor market participation and entrepreneurship (World Bank, 2015; Gonzales and others, 2015a; Christopherson and others, 2022).
- A one percentage point increase in violence against women is associated with a nine percent lower level of economic activity (Ouedraogo and Stenzel, 2021).
  - Short-term effects: women from abusive homes work fewer hours and are less productive.
  - Long-term effects: decreased female workforce participation, reduced acquisition of skills and education, impacts on children’s productivity, and reallocation of public resources toward health and judicial services.
- Concern about violence while commuting or at work is a barrier to employment (Jayachandran, 2021).
- Eliminating child marriage today would increase long-term annual per capita real GDP growth by about one percentage points in emerging and developing countries (Mitra and others, 2020).

### The Fund’s mandate related to gender
- The Fund is not an institution with a dedicated focus on gender, but gender outcomes have significant implications for countries’ economic and financial performance.
  - Women’s economic empowerment and reduction of gender gaps are associated with higher economic growth, lower inequality, increased productivity, better financial sector outcomes, and greater financial stability.
  - Economic disempowerment of women, gaps in access to education, health, and financial services, and legal barriers can negatively impact macroeconomic and financial stability and countries’ ability to achieve strong and sustainable growth.

- Relevance to the Fund’s core functions
  - Surveillance (Bilateral Article IV)
    - Under Article IV, Section 1, the Fund focuses on policies that can significantly influence present or prospective balance of payments and domestic stability [Integrated Surveillance Decision (ISD), ¶6, Decision No. 15203-(12/72), July 18, 2012].
    - Monetary, fiscal, and financial sector policies are always covered and should be discussed where related to gender outcomes/women’s economic empowerment.
    - Other gender-related policies must be discussed if assessed to significantly influence a country’s present or prospective balance of payments or domestic stability; assessment varies by country.
    - Policies outside the scope of bilateral surveillance may still be discussed in an Article IV Consultation with the country’s consent; advice provided then would constitute technical assistance under Article V, Section 2(b) rather than bilateral surveillance under Article IV, Section 1.

  - Use of Fund Resources (Conditionality)
    - Under the Guidelines on Conditionality, gender-related conditionality may be included in Fund-supported programs where measures are within the country’s control and are considered of critical importance for achieving the member’s program goals or for monitoring implementation (Guidelines on Conditionality, ¶ 6–8 and 11(d)(ii), IMF Decision No. 12864–(02/102), September 25, 2002, as amended).
    - Specific policies to address gender gaps should be included as conditionality if judged necessary to help the member resolve its balance of payments problem within the Fund repayment timeframe.

  - Capacity Development
    - The Fund has broad authority to provide technical services (technical assistance and training) consistent with the purposes of the Fund (Article V, Section 2(b)).
    - The Fund can provide capacity development to help members design and implement policies to improve gender outcomes, particularly to assist implementation of reforms recommended in surveillance or to help implement conditionality under a Fund-supported program.

### Policies to pursue women’s economic empowerment — Fiscal policies
- Fiscal policy role
  - Revenue and expenditure policies are key redistributive tools and can be designed to reduce gender inequality by supporting women’s economic empowerment.
  - Structural fiscal policies that underpin gender-aware government budgets and institutions and foster gender diversity in the workforce can promote women’s development and reduce gender inequality.
  - The number of countries implementing some form of gender-responsive budgeting has doubled from 40 countries in 2002 to 80 in 2017, and for OECD countries, from 12 in 2016 to 17 in 2018 (Alonso-Albarran and others, 2021).

- Tax policy (examples of gender-sensitive tax features)
  - Progressive tax brackets reduce the marginal tax rate for lower incomes, where women are more likely to be represented, and reduce after-tax income inequality.
  - Marginal tax rates for secondary earners are higher in several tax and social security systems, representing an implicit bias against secondary earners, who are often women; higher marginal tax rates combined with the higher female labor supply elasticity have a negative impact on female labor supply. Individual rather than household taxation and well-designed earned income tax credits are useful tools to address such problems (Coelho and others, 2022).
  - Tax credits or deductions for childcare costs increase incentives for women to participate in the labor force.
  - Consumption tax rates should be aligned across goods, and specific taxes (e.g., excise) should be aligned with estimated externalities or avoided if there are gender differences in consumption.
  - High rates of taxation for labor income compared to capital income lead to unintended consequences of disproportionately benefitting men, given their higher average wealth.

- Revenue administration
  - Revenue administrations can apply a gender focus to reduce barriers for women’s employment, entrepreneurship, and trade by providing unbiased information and support, understanding barriers to accessing tax and benefits systems, providing tailored products and services, and eliminating enforcement bias.
  - Analyzing data to devise systems and products to encourage voluntary compliance on taxes and customs can bring more women workers and entrepreneurs into the formal economy.

- Institutions overseeing revenue administration
  - These institutions can lead by example by adopting gender-responsive policies: gender equity planning, flexible work arrangements, career development, talent management, childcare, sanitation, and secure transport.
  - Implementing key performance indicators to monitor gender balance will help ensure gender remains a priority.

- Compensation of public sector employees
  - Closing gender wage gaps in the public sector reduces gender inequality.
  - Example metrics: women hold only 30 percent of senior level positions; on average, women represent a higher share of employment in the public sector than in the formal private sector but earn only 86 percent as much as male workers.
  - These wage gaps are smaller in middle- and high-income countries, and larger in low-income countries.
  - Over time, if women in the public sector hold more positions of power and higher pay, the pay gap in the formal private sector (where women earn 76 percent relative to men) may also improve (Shi and others, 2019).
  - Countries with gender disaggregated data, such as Costa Rica, the Dominican Republic, and Honduras have smaller gender gaps for pay and seniority (Nwankwo and others, 2021).

*IMF GENDER MAINSTREAMING STRATEGY—BACKGROUND PAPER (excerpt provided)*

### 46.      Social protection systems can play an important role in narrowing gender gaps. A few

### 46.      Social protection systems can play an important role in narrowing gender gaps. A few

### Social protection measures
- Cash transfers
  - Can target female-headed households to improve social welfare, boost human capital, and increase intergenerational mobility for girls.
  - Conditional cash transfers may include school attendance or health requirements.
- Paid maternity leave
  - Policy design should optimize the length, benefit amount, and contribution composition (share paid by employers, employees, and/or government) to minimize de-skilling, fiscal costs, and labor market disincentives.
  - OECD average duration for paid maternity leave: 18 weeks; most countries provide benefits that replace more than 50 percent of previous earnings.
  - Evidence: paid leave increases female labor force participation—particularly among low-skilled women—and has been found to lower poverty and inequality. Example: California’s paid family leave was shown to reduce poverty (Fabrizio and others, 2020).
- Paid parental leave
  - Can improve child health and development, increase mothers’ earnings, raise female labor force participation, and promote a more equitable division of labor at home.
- Public spending on child and elder care
  - Encourages female labor force participation, particularly for low-income workers.
  - Norway: expansion of universal childcare increased the likelihood of mothers’ employment by 32 percentage points.
  - Reference: Canada’s "Build Back Better" plan lays groundwork for a national childcare system.
- Active labor market policies
  - Training programs enhance employability of women; a review found positive effects in 13 out of 15 studies.

### Education and health
- Social spending increases women’s human capital via greater access to education and health.
  - Conditional cash transfers can encourage girls’ access to education; child allowances can reduce girls’ dropout rates.
  - Improving teacher training and skills leads to improved learning outcomes.
  - Better-educated women make more informed nutrition and healthcare decisions.
  - Health spending improves life expectancy, quality, and productivity.

### Capital expenditure
- Public infrastructure spending on water and sanitation, energy, and digital services reduces unpaid care work, supports women’s employment, and improves health.
  - Two billion people lack access to improved sanitation and nearly one billion to potable water.
  - Women and girls often tasked with fetching water, which can lower female school enrollment.
  - Closing the digital divide: 90 percent of jobs worldwide have a digital component; internet access is 12 percentage points lower for women in developing countries.
  - Such capital expenditures build human capital, empower women, and increase productivity.

### Policies for promoting financial inclusion
- Importance and barriers
  - Increasing financial inclusion empowers women to manage income, participate in the formal economy, and contribute to GDP growth.
  - Digital financial services reach lower-income households and SMEs, enabled contactless transactions and quick deployment of government support during the pandemic.
  - Barriers for women: access to mobile phones and internet, cultural/social norms, digital and financial literacy.
- Official identification
  - ID systems should be universally accessible to women and girls; gender-based legal barriers persist (women in 33 countries cannot apply for passports in the same way as men).
  - Example: India’s 12-digit biometric ID used to open bank accounts for over 300 million people as of October 2017; between 2014 and 2017, account ownership in India increased by about 27 percent, and the gender gap in account ownership narrowed by about 14 percent.
- Mobile phones and digital access
  - Global Findex: mobile phone ownership is high among the unbanked—about two-thirds of 1.1 billion unbanked adults have a mobile phone.
  - Mobile phone ownership of unbanked men is 10 percentage points higher than of unbanked women.
  - Governments can increase mobile availability via incentives like flexible financing arrangements.
- Financial infrastructure and interoperability
  - A competitive, trustworthy, interoperable financial ecosystem reduces transaction/time costs and supports women’s inclusion.
  - Women are more likely to experience time poverty; they use digital financial services less than men in some regions.
  - Example: Peruvian Banking Association developed a common e-money platform with 35 financial institutions to increase interoperability and access for women.
- Direct deposit and digital payments
  - Direct deposit to accounts under women’s control can strengthen household decision-making, bolster labor force participation, and reduce poverty.
  - Kenya: when women adopted mobile money accounts through M-Pesa, poverty dropped, savings rose, and 185,000 women left agricultural jobs for higher-paying positions in business or retail.
  - Bangladesh: digital wage payments help factory workers adopt formal financial products and better manage financial emergencies.
- Financial literacy and training
  - Targeted financial literacy programs increase women’s financial knowledge and behavioral outcomes.
  - Togo’s Novissi program targeted women and was introduced via advertisements and social media.
  - Colombia’s LISTA program used shared tablets; improved financial knowledge persisted for at least two years and led to improved financial decision-making (reduced cash reliance, higher bank savings).
- Alternative collateral and credit histories
  - Policymakers can promote nontraditional information-based credit records (e.g., phone/utility payments).
  - Examples: Nigeria’s fintech Lidya uses alternative data to disburse loans within 24 hours; Indian fintechs use livestock health data to assess female farmers’ credit eligibility.
- Gender biases in financial staffing and lending
  - Eliminating biases supports female financial inclusion; evidence indicates customers trust female employees more and loans managed by female officers show lower default probability.
- Leadership and data
  - Greater representation of women on bank boards and supervision boards can support financial resilience and stability.
  - Collecting sex-disaggregated financial data and policy-related research informs product design and policy; Nigeria disaggregates financial services provider data by gender.
- Regulatory guidance
  - Basel Committee guidance offers a proportionate supervisory approach to institutions serving unserved and underserved customers, many of whom are women; guidance applies to prudential supervisors, payment overseers, regulators of non-bank financial institutions, and telecommunications regulators.

### Product and labor market policies
- Role
  - Product and labor market policies maximize women’s labor potential, raise employment rates, and stimulate labor productivity by promoting equal opportunities and fostering female entrepreneurship.
- Collective bargaining
  - Can reduce gender wage gaps by shifting bargaining weight from individuals to collective parties; evidence suggests collective bargaining reduces gender pay gaps with marginal effects on other workers' wages.
  - Poorly designed collective bargaining can weaken job opportunities for disadvantaged groups; systems should promote macroeconomic and microeconomic flexibility with coordination among bargaining parties and firm-level flexibility.
- Transparency laws
  - Wage and conditions transparency can help less aggressive negotiators reduce gender gaps; Germany, Iceland, and the United Kingdom have adopted recent transparency laws.
- Minimum wage
  - Women are over-represented in low-paying jobs; increasing minimum wages has been associated with reducing the gender wage gap and raising female labor force participation.
  - Minimum wages that are too high can hurt job opportunities for disadvantaged groups, including less educated women—suggesting a case for moderate minimum-to-median wage ratios.
- Employment protection and unemployment insurance
  - Overly strict employment protection increases hiring/firing costs, reducing labor turnover and tending to benefit prime-age males while hurting disadvantaged workers, including women needing flexible market entry due to childbearing.
  - In EMDEs, stringent protection for formal workers contributes to larger informal sectors, disproportionately affecting low-skilled workers and women.
  - Well-designed unemployment insurance can protect workers without stifling job prospects and help avoid labor market dualism.

*IMF GENDER MAINSTREAMING STRATEGY—BACKGROUND PAPER*

### 67.      Overly restrictive labor and product market regulations may incentivize “involuntary

### Overly restrictive labor and product market regulations may incentivize “involuntary part time work,” constraining women’s earnings potential

### Part-time work and labor market constraints
- Part-time employment is defined as people in employment (whether employees or self-employed) who usually work less than 30 hours per week in their main job.
- Employed people are those aged 15 and over who report that they have worked in gainful employment for at least one hour in the previous week or who had a job but were absent from work during the reference week while having a formal job attachment.
- Availability of part-time or flexible work arrangements is associated with higher labor force participation by women (Figure 13) (Barbieri and others, 2019; Thévenon, 2013).
- Part-time work can be “involuntary,” reflecting constrained responses to:
  - lack of full-time jobs,
  - labor market regulations,
  - other constraints such as tax policy and child-care availability (Buddelmeyer and others, 2008; Hipp and others, 2015; OECD, 2010).
- When part-time work reflects constraints rather than choice, it is more likely to be detrimental to women’s empowerment.

### Product market policies
- Product market deregulation can indirectly support female employment (Bassanini and Duval, 2006; Griffith and others, 2007; Fiori and others, 2012; Bouis and others, 2020; Gal and Hijzen, 2016; Piton and Rycx, 2019).
- Mechanisms described:
  - In countries with high male employment and low female labor force participation, women provide the main labor pool to accommodate greater labor demand from liberalized industries.
  - Structural transformation toward a service-based economy underpins growth in industries where women have comparative advantages (Bassanini and Duval, 2006; Ngai and Petrongolo, 2017; Ostry and others, 2018; Cortes and others, forthcoming).
  - Easing regulations in services industries—where most stringent product market regulations exist—may increase relative demand for female workers.
  - Stringent regulations that raise costs of childcare and other household services and restrict retail shop opening hours can increase the monetary and opportunity costs of female labor market participation.

### Policies to tackle cultural norms and barriers to female entrepreneurship
- Female entrepreneurship prevalence varies widely across countries (Figure 14).
- In EMDEs, entrepreneurship is a vital source of female employment due to flexibility in hours and ability to combine work with household commitments.
- Legal and administrative barriers that may directly or indirectly discriminate against women include laws on business registration, ownership of assets, and access to credit (Hampel-Milagrosa, 2010).
- Cultural norms can hinder equal application of laws and regulations (Hampel-Milagrosa, 2010; Das and others, 2015). Examples:
  - Local practices penalizing women’s land ownership even when formal property rights are gender neutral (Kaarhus and others, 2005; Toulmin, 2009).
- Economic processes can shape and be shaped by cultural norms regarding female employment (Fortin, 2005; Alesina and others, 2013).
- Field and natural experiments indicate cultural norms can be partially shifted to empower females and promote economic activity (Jayachandran, 2021).
- Examples of initiatives that shift norms include:
  - randomly assigning female colleagues to teams in male-dominated industries (Dahl and others, 2021),
  - informational videos on female employment opportunities shown to family members (Dean and Jayachandran, 2019),
  - gender quotas in local governments (De Paola and others, 2010),
  - appointments of females as chief executives and heads of academic departments (Langan, 2019).

### Legal barriers and reforms to enhance women’s economic empowerment
- Between 1960 and 2010, staff estimations and World Bank data suggest that 280 legal reforms were enacted to address gender inequalities (Gonzales and others, 2015a).
- Legal reforms that narrowed the wage gap are associated with greater strides towards equality and increased female labor force participation (World Bank, 2021).
- Types of legal provisions that affect women’s economic empowerment include constitutional law, family law, property law, labor law, social security, pension, and tax law.
- Removal of discriminatory provisions in laws affecting citizenship and voting rights, freedom of movement, legal age to marry, heading a household, marital property regimes, divorce rights, rights to own and dispose of assets, access to credit, inheritance rights, and permission to work can have profound consequences.
- Implementation challenges: long legislative procedures and limited state capacity can delay results; legislative reforms may take time to show results.
- Legal literacy, access to justice, and enforcement of new or amended laws are essential to reduce gender inequality:
  - Access to justice includes the ability to bring a legal case, apply for legal aid, provide testimony, and obtain a fair trial.

### Specific policy examples and measures
- Constitutional guarantees:
  - 2014 Tunisian Constitution guarantees equal treatment and duties under the law for all citizens, the right to decent working conditions and a fair wage, a commitment to equal opportunities for men and women in all domains, attainment of gender parity in elected assemblies, eradication of violence against women, and guarantees of civil and political rights in accordance with the law.
  - 2003 Rwandan Constitution enshrined equality between men and women and required women to occupy at least 30 percent of positions in Parliament; today, over 50 percent of parliamentarians and ministers are women (World Economic Forum, 2021).
- Property law:
  - Rwanda passed legislation to provide for equal inheritance, succession, and land rights for women, including prohibiting discrimination based on sex in matters relating to ownership and possession of property (Rwanda, Law No. 08/2005; Law No. 43/2013 on land rights; Matrimonial Regimes, Liberties and Succession, 1999).
- Family law:
  - Namibian Married Persons Equality Act of 1996 abolished traditional marital power of a husband over his wife and her property and granted married women equal footing with their husbands, rights to head a household, sell joint assets, administer joint property, register land, open a bank account, and joint custody and guardianship of children.
  - The U.S. Economic Equity Act (introduced in successive iterations from 1981 to 1996) created more protections for divorced and widowed women and established child support enforcement procedures (Seith, 2013).
  - Brazil’s Sinal Vermelho campaign against domestic violence became federal law (No. 14/188, of July 28, 2021), impacting more than 10 million people and resulting in over 15 states and the Federal District enacting related state laws.
- Labor law and workplace protections:
  - India (2021) enacted an expansive worker protection program that requires equal wages for men and women and includes provisions for childcare at work sites.
  - India (March 2017) enacted a federal law mandating that all employers offer twenty-six weeks of paid maternity leave.
  - Rwanda enacted laws establishing equal working conditions and equal wages, rights and benefits related to childbearing including maternity leave, maternity pay, guarantee of employment after maternity leave, and facilities for pregnant and breastfeeding women; Rwanda has a female labor force participation rate of 84 percent compared to the global average of around 47 percent (International Labor Organization, ILOSTAT database).
  - World Bank’s Women, Business and the Law 2020 Report notes Saudi Arabia showed most progress toward gender equality since 2017 on WBL indicators, with significant improvements to mobility, sexual harassment, pensions, and workplace rights.
- Equal pay and parental leave:
  - Iceland adopted the Equal Pay Standard in 2018 requiring companies to adopt wage management systems that transparently establish job criteria and wages for clearly defined positions without regard to gender; companies must obtain certification from third-party auditors to prove compliance and renew it every three years; employers that do not get certified face financial penalty.
  - Iceland’s parental leave policy effective beginning in January 2021: the independent right of each parent is six months, with parents allowed to transfer six weeks between each other; one parent can take parental leave for up to seven and a half months and the other for four and a half months.
  - The 2021 Women, Business, and the Law report notes the United Arab Emirates is first in the Middle East and North Africa region to have paid parental leave.
- Anti-discrimination at work:
  - Philippines’ Anti Sexual Harassment Law 2019 strengthened measures to prevent gender-based discrimination and protection from gender and sexual harassment at work.

### Collaboration with external partners and stakeholders
- Collaboration is a key pillar of mainstreaming gender at the IMF; it complements micro- and sectoral-level policy advice of other organizations and leverages IMF engagement with ministries of finance and central banks.
- Collaboration priorities:
  - Begin with institutions where synergies to reduce gender gaps are greatest.
  - Build on previous collaboration such as FSAP and Debt Sustainability Analysis (DSA).
- Recent and planned collaborations:
  - Increased collaboration with the World Bank over the last five years, including World Bank participation in a three-year IMF project (funded by FCDO) on a global survey of gender budgeting efforts; World Bank staff authored one of the project’s working papers.
  - Joint high-profile presentations with the World Bank at international events and joint IMF/World Bank workshops.
  - Plans for enhanced country-level engagement (e.g., pilot Country Gender Assessments), additional events, and a gender data hub; exploration of joint analytical work such as gender modeling and gender impact analysis.
  - Since 2015, collaboration with UN Women on gender equality research, peer learning events, CD, and seminars; joint country-level notes and peer learning events on gender budgeting and COVID-19 and gender.
  - Planned deeper IMF–UN Women collaboration on joint analytical work and research; joint data curation; country-level technical cooperation; and CD and training, including using UN Women’s standardized policy tools to assess gendered impacts of national fiscal stimulus responses (implemented in more than 20 countries).
- Other external partnerships and funding:
  - Partnership with FCDO funded a global survey on gender budgeting, resulting in eight working papers, three high-level conferences, a publicly available toolkit, and a book; micro-founded general equilibrium models applied in Argentina, Iran, Nigeria, Senegal, and Sierra Leone.
  - External funding from the Gates Foundation, the Hewlett Foundation, and Canada supported CD, peer learning, conferences, and country-level gender strategy work.
  - Engagements with Asian Development Bank, Commitment to Equity Institute, EBRD, European Commission, IFC, ILO, and UNICEF to explore joint research projects, seminars, and social policy collaboration.

*IMF GENDER MAINSTREAMING STRATEGY—BACKGROUND PAPER*

### 82.      IMF external engagement with other stakeholders on gender-related topics has raised

### 82. IMF external engagement with other stakeholders on gender-related topics has raised

### External engagement and dissemination
- External engagement has raised awareness of gender work at the Fund and provided avenues for communicating key messages of gender-related analytical papers produced by staff, and for hearing from external stakeholders, such as CSOs.
- External engagements at conferences and workshops have been amplified by other dissemination channels including blogs and videos, digital platforms (imf.org and social media), media interviews, management speeches, IMF intranet content, and internal events.
- Gender-focused messages have primarily focused on promoting IMF analytical products (e.g., publications such as SDNs or working papers).

### Management advocacy
- IMF Management has served as a powerful advocate for gender-related issues.
- During 2017–22, IMF Managing Directors engaged in more than 50 global events on gender (excluding media interviews).
- “Only-gender-focused” events declined since 2020 primarily due to the COVID-19 crisis.

### IMF website and digital metrics
- Visitors to the www.imf.org/gender page have increased over the past five years, with visits in 2022 (3,800 unique visitors) currently on the rise and expected to surpass 2021 views (7,200 unique visitors).
- Users reading gender-related blogs and content on www.imf.org have increased over the past five years (from 35,000 to 439,000 total unique visitors to-date).
- Videos have performed exceptionally well in terms of number of views, with one reaching over 175,000 views since 2018.

### Communications strategy and plans
- Going forward, the goal is to focus external and internal communications on gender messages that are integrated into the Fund’s core work—surveillance, lending, and CD—while targeting and engaging with audiences, including influencers, CSOs, regional media and non-media audiences, as well as internal staff.
- A redesign of the IMF gender webpage is envisaged.
- A strategic communications plan will be launched to enhance impact.
- Management, senior staff, and economists will be encouraged to engage publicly on gender issues in their respective regions and areas of expertise.

### CSO consultation inputs (from public consultation process)
- CSO representatives would like the IMF’s gender strategy to address three areas:
  - (i) articulate a clear vision on the IMF’s work on gender equality rooted in a macroeconomic paradigm shift and commitment to do no harm;
  - (ii) commit resources; and
  - (iii) invest in meaningful external engagement to build knowledge on gender and macroeconomics.

### Section VI — Country coverage under the Gender Mainstreaming Strategy: resources and key assumptions
- All additional resources from the December augmentation (four FTEs) are centralized in the Gender and Inclusion Unit in SPR, and resources available to Area Departments reflect pre-augmentation allocations (two FTEs for country work on gender in area departments).
- The FTE intensity of a deep dive and light touch focus on gender in the steady state is 0.3 and 0.1 FTEs per country respectively.
- The FTE intensity for both deep dives and light touches is higher than in the steady state in the first year of implementation (FY23) and decreases over time, reaching the steady state intensity in FY25, as the central unit develops databases and toolkits for the analysis of gender disparities, and staff come up to speed on gender-related issues.

### Scenario outcomes and illustrative country coverage
- Baseline — Scenario 1 (increasing deep dives):
  - Assumption on resource allocation: share of dedicated FTEs undertaking deep dives rises from one-fourth in the first year to one-third in the second year to 40 percent in the third year.
  - Estimated total country coverage would increase from about 11 in the first year to about 18 in the third year.
  - Total deep dive cases would increase from 2 to 3 countries over the three years.
  - Total light touch cases would increase from 9 to 15 by the third year.
- Scenario 2 (only deep dives):
  - If only deep dives are considered, country coverage would fall to about 6 in the first year, reaching about 8 by the third year.
- Scenario 3 (only light touches):
  - If only a light touch focus on gender is considered, country coverage would increase to about 12 in the first year, rising to about 25 by the third year.
  - This amounts to about 2-3 countries per area department in the first year, rising to about 5 countries by the third year.
  - Note: only “light touch” coverage of countries is not consistent with the vision or strategy presented in the main paper, which calls for mainstreaming gender in the Fund’s core work.

### Definitions and implementation notes
- The terms “deep dives” and “light touches” refer to the depth and breadth of country coverage:
  - Deep dives (in-depth coverage) entail integrating gender into the fiscal, financial, and structural analyses and core policy discussions.
  - Light touches (broader coverage) envisage analysis of selected gender issues, typically related to one sector or topic.
- Footnote on coverage counting: owing to the need for follow-up analysis and discussions or new topic coverage, the number of countries covered in successive years could include some countries covered in prior years; the table calculates the number and types of countries covered under the given assumptions and does not prescribe how resources are allocated between new countries and previously covered countries.

*IMF GENDER MAINSTREAMING STRATEGY—BACKGROUND PAPER*

### References

### References

### Labor markets, employment patterns, and labor market institutions
- Attanasio, O., M. Bird, P. Lavado, and L. Cardona-Sosa, 2016, “Tablet-Based Financial Education in Colombia,” https://www.poverty-action.org/study/tablet-based-financial-education
- Barbieri, P., G. Cutuli, R. Guetto, and S. Scherer, 2019, “Part-time Employment as a Way to Increase Women’s Employment: (Where) Does it Work?” International Journal of Comparative Sociology, 60(4), 249-268.
- Bargain, O., K. Doorley, and P. Van Kerm, 2019, “Minimum Wages and the Gender Gap in Pay: New Evidence from the United Kingdom and Ireland,” Review of Income and Wealth, Vol. 65, 514–539.
- Bassanini, A., and R. Duval, 2006, "Employment Patterns in OECD Countries: Reassessing the Role of Policies and Institutions," OECD Economics Department Working Papers 486, OECD Publishing.
- Bergemann, A., and J. Van Den Berg, 2008, “Active Labor Market Policy Effects for Women in Europe —A Survey,” Annales d'Économie et de Statistique, No. 91/92, 385-408.
- Blanchard, O., F. Jaumotte, and P. Loungani, 2013, “Labor Market Policies and IMF Advice in Advanced Economies during the Great Recession,” IMF Staff Discussion Note 13/02.
- Botero, J., S. Djankov, R. La Porta, F. Lopez-de-Silanes, and A. Shleifer, 2004, "The Regulation of Labor," Quarterly Journal of Economics 119(3), 1339–1382.
- Breza, E., M. Kanz, and L. Klapper, 2017, “Real Effects of Electronic Wage Payments: Bangladeshi Factory Workers,” https://blogs.lse.ac.uk/southasia/2017/04/24/real-effects-of  -electronic-wage-payments-bangladeshi-factory-workers/.
- Buddelmeyer, H, G. Mourre, and M. Ward, 2008, “Why Do Europeans Work Part-time? A Cross-Country Panel Analysis,” ECB Working Paper Series No. 872, February.
- Card, D., R. Cardoso, and P. Kline, 2016, “Bargaining, Sorting, and the Gender Wage Gap: Quantifying the Impact of Firms on the Relative Pay of Women,” The Quarterly Journal of Economics, 131(2), 633–686.
- Card, D., T. Lemieux, and W.C. Riddell, 2004, “Unions and Wage Inequality,” Journal of Labor Research, Vol. 25, 519–559.
- Christiansen, L., H. Lin, J. Pereira, P. Topalova, and R. Turk, 2016, “Individual Choice or Policies? Drivers of Female Employment in Europe,” IMF Working Paper 16/49.
- Cortes, M., N. Jaimovic, and H. Siu, (forthcoming) “The Growing Importance of Social Tasks in High-Paying Occupations: Implications for Sorting,” Journal of Human Resources.
- Duval, R., and P. Loungani, 2019, “Designing Labor Market Institutions in Emerging and Developing Economies: Evidence and Policy Options,” IMF Staff Discussion Note 19/04.
- Duval, R., I. Shibata and J. Yi., 2021, “Labor Market Reform Options to Boost Employment in South Africa,” IMF Working Paper 2021/165.
- Fiori, G., G. Nicoletti, S. Scarpetta, and F. Schiantarelli, 2012, "Employment Effects of Product and Labour Market Reforms: Are There Synergies?" The Economic Journal, 122(558), 79–104.
- Gal, P. N., and A. Hijzen, 2016, “The Short-Term Impact of Product Market Reforms: A Cross-country Firm-level Analysis,” IMF Working Paper 2016/116.
- Griffith, R., R. Harrison, and G. Macartney, 2007, “Product Market Reforms, Labour Market Institutions and Unemployment,” The Economic Journal, 117(519), C142–C166.
- Hallward-Driemeier, M., B. Rijkers, and A. Waxman, 2017, “Can Minimum Wages Close the Gender Wage Gap?” Review of Income and Wealth Vol. 63, 310–334.
- Heckman, J., and C. Pages, 2004, “Law and Employment: Lessons from Latin America and the Caribbean,” Chicago: University of Chicago Press.
- Hipp, L., J. Bernhardt, and J. Allmendinger, 2015, “Institutions and the Prevalence of Nonstandard Employment,” Socio-economic Review 13(2), 351–377.
- Ngai, R. and B. Petrongolo, 2017, “Gender Gaps and the Rise of the Service Economy,” American Economic Journal: Macroeconomics, 9(4), 1–44.
- Piton, C., and F. Rycx, 2019, “The Unemployment Impact of Product and Labour Market Regulation: Evidence from European Countries,” IZA Journal of Labor Policy, 9(2), 1–32.
- Prady, D., H. Tourpe, S. Davidovic, and S. Nunhuck, 2020, “Beyond the COVID-19 Crisis,” IMF Working Paper 20/198).
- Toy and sector-specific labor market analyses cited throughout the references (see individual entries above for working paper and journal details).

### Gender laws, institutions, social norms, and political economy
- Alesina A., P. Giuliano, and N. Nunn, 2013, “On the Origins of Gender Roles: Women and the Plough,” Quarterly Journal of Economics, 128(2), 469–530.
- Alonso, C., M. Brussevich, E. Dabla-Norris, Y. Kinoshita, and K. Kochhar, 2019, “Reducing and Redistributing Unpaid Work: Stronger Policies to Support Gender Equality,” IMF Working Paper 19/225.
- Alonso-Albarran, V., T. Curristine, G. Preston, A. Soler, N. Tchelishvili, and S. Weerathunga, 2021, “Gender Budgeting in G20 Countries,” IMF Working Paper 21/269.
- De Paola, M., V. Scoppa, and R. Lombardo, 2010, “Can Gender Quotas Break Down Negative Stereotypes? Evidence from Changes in Electoral Rules,” Journal of Public Economics, 94(5–6), 344-353.
- Dean, J.T., and S. Jayachandran, 2019, “Changing Family Attitudes to Promote Female Employment,” AEA Papers and Proceedings, Vol. 109, 138–142.
- Jayachandran, S., 2021, “Social Norms as a Barrier to Women’s Employment in Developing Countries,” IMF Economic Review Vol. 69, 576–595.
- Hyland, M., S. Djankov, and P.K. Goldberg, 2020, “Gendered Laws and Women in the Workforce,” American Economic Review: Insights, 2(4), 475–490.
- Kaarhus, R., T.A. Benjaminsen, A. Hellum, and I. Ikdahl, 2005, “Women's Land Rights in Tanzania and South Africa: A Human Rights Based Perspective on Formalisation,” Forum for Development Studies, 32(2), 443–482.
- Declarations and policy documents by the International Monetary Fund (selected):
  - International Monetary Fund, 2013a, “Jobs and Growth: Analytical and Operational Considerations for the Fund,” IMF Board Paper, March.
  - International Monetary Fund, 2013b, “Guidance Note on Jobs and Growth Issues in Surveillance and Program Work,” IMF Policy Document.
  - International Monetary Fund, 2014, “Revised Operational Guidance to IMF Staff on the 2002 Conditionality Guidelines,” IMF Policy Document.
  - International Monetary Fund, 2015a, “Financing for Development—Revisiting the Monterrey Consensus,” IMF Policy Paper.
  - International Monetary Fund, 2015b, “Guidance Note for Surveillance under Article IV Consultations.”
  - International Monetary Fund, 2017a, “Gender Budgeting in G7 Countries.”
  - International Monetary Fund, 2017b, “Fiscal Monitor: Tackling Inequality,” October.
  - International Monetary Fund, 2018a, “Pursuing Women's Economic Empowerment,” IMF Policy Papers.
  - International Monetary Fund, 2018b, “World Economic Outlook: Cyclical Upswing, Structural Change,” April.
  - International Monetary Fund, 2020, “World Economic Outlook: A Long and Difficult Ascent,” October.
  - International Monetary Fund, 2021a, “World Economic Outlook: Recovery During a Pandemic,” October.
  - International Monetary Fund, 2021b, “Fiscal Monitor: A Fair Shot,” April.
  - International Monetary Fund, 2021c, “Canada: 2021 Article IV Consultation—Press Release and Staff Report,” IMF Country Report 2021/054.
  - International Monetary Fund, 2022, “European Labor Markets and the COVID-19 Pandemic: Fallout and the Path Ahead,” IMF Departmental Paper 2022/004.

### Macroeconomic impacts, growth, and gender gaps
- Bandara, R., 2015, “The Economic Cost of Gender Gaps in Effective Labor: Africa's Missing Growth Reserve,” Feminist Economics, 21(2), 162-186.
- Bertay, A. C., L. Dordevic, and C. Sever, 2020, “Gender Inequality and Economic Growth: Evidence from Industry-Level Data,” IMF Working Paper 20/119.
- Cuberes, D., and M. Teignier, 2016, “Aggregate Effects of Gender Gaps in the Labor Market: A Quantitative Estimate,” Journal of Human Capital 10 (1), 1–32.
- ________, 2018, “Macroeconomic Costs of Gender Gaps in a Model with Entrepreneurship and Household Production,” The B.E Journal of Macroeconomics, 18(1).
- Elborgh-Woytek, K., M. Newiak, K. Kochhar, S. Fabrizio, K. Kpodar, P. Wingender, B. Clements, and G. Schwartz, 2013, “Women, Work, and the Economy: Macroeconomic Gains from Gender Equity,” Staff Discussion Note 13/10.
- Hakura, D., M. Hussain, M. Newiak, V. Thakoor, and F. Yang, 2016, “Inequality, Gender Gaps and Economic Growth: Comparative Evidence for Sub-Saharan Africa,” IMF Working Paper 16/111.
- Hsieh, C., E. Hurst, C. Jones, and P. Klenow, 2019, “The Allocation of Talent and U.S. Economic Growth,” Econometrica, 87(5), 1439–1474.
- Mitra, P., E.M.P. Endengle, M. Pant, and L.F. Almeida, 2020, “Does Child Marriage Matter for Growth?” IMF Working Paper 20/27.
- Ostry, J.D., J. Alvarez, R.A. Espinoza, and C. Papageorgiou, 2018, "Economic Gains from Gender Inclusion: New Mechanisms, New Evidence," IMF Staff Discussion Note 18/006.
- Ouedraogo, R., and D. Stenzel, 2021, “The Heavy Economic Toll of Gender-based Violence: Evidence from Sub-Saharan Africa,” IMF Working Paper 2021/277.
- Petersson, B., R. Mariscal, and K. Ishi, 2017, “Women Are Key for Future Growth: Evidence from Canada,” IMF Working Paper 17/166.
- Kazandjian, R., L. Kolovich, K. Kochhar, and M. Newiak, 2016, “Gender Equality and Economic Diversification,” IMF Working Paper 16/140.
- Malta, V., A. Martinez, and M. M. Tavares, 2019a, "A Quantitative Analysis of Female Employment in Senegal," IMF Working Paper 2019/241.
- Malta, V., L. Kolovich, A. Martinez, and M. M. Tavares, 2019b, "Informality and Gender Gaps Going Hand in Hand," IMF Working Paper 2019/112.

### Financial inclusion, digital finance, and fintech
- Beck, T., P. Behr, and A. Guettler, 2018, “Gender and Banking: Are Women Better Loan Officers?” Journal of Banking and Finance, 17(4), 1279–1321.
- Bill and Melinda Gates Foundation, 2019, “A G7 Partnership for Women’s Digital Financial Inclusion in Africa,” G7 France Biarritz 2019.
- Bluedorn, J., F. Caselli, N.-J. Hansen, I. Shitaba, and M. M. Tavares, 2021, “Gender and Employment in the COVID-19 Recession: Evidence on “She-cessions”,” IMF Working Paper 21/95.
- Cecchetti, S. G. and K.L. Schoenholtz, 2017, “Banking the Unbanked: The Indian Revolution,” https://www.moneyandbanking.com/commentary/2017/11/5/banking-the-unbanked-the-indian-revolution.
- Chiplunkar, G., and P. K. Goldberg, 2021, “Aggregate Implications of Barriers to Female Entrepreneurship,” NBER Working Paper No. 28486.
- Demirguc-Kunt, A., L. Klapper, D. Singer, S. Ansar, and J. Hess, 2018, “The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution,” World Bank, Washington, DC.
- Global Partnership for Financial Inclusion, 2020, “Advancing Women’s Digital Financial Inclusion,” https://www.gpfi.org/news/advancing-women-s-digital-financial-inclusion
- Harten, S., and A.B. Rusu, 2016, “Women Make the Best DFS Agents: How Financial Sector Alternative Delivery Channels Create Business Opportunities for Women in Emerging Markets,” World Bank.
- Khera, P., S. Ogawa, R. Sahay, and M. Vasishth, 2022, forthcoming, “Women and Fintech: Are Gender Gaps Closing?” IMF Staff Discussion Note.
- Olusegun, T. S., 2017, “Financial Inclusion and the Role of Women in Nigeria,” African Development Review, 29(2), 249–58.
- Peterson, M., 2019, “Nigerian Fintech Company Enables This Entrepreneur to Run a Business and Support his Family,” The Real Impact of Financial Inclusion (blog). July 22, 2019. https://www.accion.org/nigerian-fintech-company-enables-this-entrepreneur-to-run-a-business-and-support-his-family

### Education, childcare, health, and unpaid care
- Addati, L., U. Cattaneo, V. Esquivel, and I. Valarino, 2018, “Care Work and Care Jobs for the Future of Decent Work,” International Labour Organization (ILO).
- Blackden, C. M., and Q. Wodon, 2006, “Gender, Time Use, and Poverty in Sub-Saharan Africa,” World Bank Working Paper No. 73.
- Das, S., S. Jain-Chandra, K. Kochhar, and N. Kumar, 2015, “Women Workers in India: Why So Few Among So Many,” IMF Working Paper 15/55.
- Demery, L., and I. Gaddis, 2009, “Social Spending, Poverty, and Gender Equality in Kenya: A Benefit Incidence Analysis,” Deutsche Gesellschaft für Technische Zusammenarbeit, Nairobi.
- Edo, M., and M. Marchionni, 2019, “The Impact of a Conditional Cash Transfer Programme on Education Outcomes Beyond School Attendance in Argentina,” Journal of Development Effectiveness 11(3), 230-252.
- Evans, D., and F. Yuan, 2019, “What We Learn about Girls’ Education from Interventions that Do Not Focus on Girls,” Center for Global Development, https://www.cgdev.org/sites/default/files/what-we-learn-about-girls-education-interventions-do-not-focus-on-girls.pdf.
- Fabrizio, S., A. Fruttero, D. Gurara, L. Kolovich, V. Malta, M. Tavares, and N. Tchelishvili, 2020, “Women in the Labor Force: The Role of Fiscal Policies,” IMF Staff Discussion Note 20/03.
- Fabrizio, S., D. B. P. Gomes, and M. M. Tavares, 2021, “COVID-19 She-Cession: The Employment Penalty of Taking Care of Young Children,” IMF Working Paper 21/58.
- Georgieva, K., S. Fabrizio, D. B. P. Gomes, and M. M. Tavares, 2021, “COVID-19: The Moms’ Emergency,” IMF Blog, https://blogs.imf.org/2021/04/30/covid-19-the-moms-emergency-2/
- Giurge, L., and A. Whillans, 2019, “Beyond Material Poverty: Why Time Poverty Matters for Individuals, Organisations and Nations,” Harvard Business School Working Paper 20-051.
- Hyde, E., M.E. Greene, and G.L. Darmstadt, 2020, “Time Poverty: Obstacle to Women’s Human Rights, Health and Sustainable Development,” Journal of Global Health, 10(2).
- Remme, M., A. Vassal, G. Fernando, and D. Bloom, 2020, “Investing in the Health of Girls and Women: A Best Buy for Sustainable Development,” BMJ 2020; 369:m1175.
- Kenny, C. and G. Yang, 2021, “The Global Childcare Workload from School and Preschool Closures during the COVID-19 Pandemic,” Center for Global Development Note June 2021.
- Gonzales, C., S. Jain-Chandra, K. Kochhar, and M. Newiak, 2015a, “Fair Play: More Equal Laws Boost Female Labor Force Participation,” Staff Discussion Note 15/02.
- Gonzales, C., S. Jain-Chandra, K. Kochhar, M. Newiak, and T. Zeinullayev, 2015b, “Catalyst for Change: Empowering Women and Tackling Income Inequality,” Staff Discussion Note 15/20.

### Gender, innovation, entrepreneurship, and firm effects
- Babcock, L. C., and S. Laschever, 2003, “Women Don’t Ask: Negotiation and the Gender Divide,” Princeton University Press.
- Baker, M., Y. Halberstan, K. Kroft, A. Mas, and D. Messacar, 2019, “Pay Transparency and the Gender Gap,” NBER Working Paper No. 25834.
- Beck, T., P. Behr, and A. Guettler, 2018, “Gender and Banking: Are Women Better Loan Officers?” Journal of Banking and Finance, 17(4), 1279–1321.
- Biasi, B., and H. Sarsons, 2021, “Flexible Wages, Bargaining, and the Gender Gap,” Quarterly Journal of Economics (Forthcoming).
- Brussevich, M., E. Dabla-Norris, C. Kamunge, P. Karnane, S. Khalid, and K. Kochhar, 2018, “Gender, Technology, and the Future of Work,” IMF Staff Discussion Note 18/07.
- Cook, L., 2019, “The Innovation Gap in Pink and Black," in Wisnioski, Hintz, and Stettler Kleine, eds. Does America Need More Innovators? Cambridge, MA: The MIT Press.
- Cook, L., J. Gerson, and J. Kuan, 2021, “Closing the Innovation Gap in Pink and Black,” NBER Working Paper 29354.
- Chiplunkar, G., and P. K. Goldberg, 2021, “Aggregate Implications of Barriers to Female Entrepreneurship,” NBER Working Paper No. 28486.
- Card, D., R. Cardoso, and P. Kline, 2016, “Bargaining, Sorting, and the Gender Wage Gap: Quantifying the Impact of Firms on the Relative Pay of Women,” The Quarterly Journal of Economics, 131(2), 633–686.
- Harten, S., and A.B. Rusu, 2016, “Women Make the Best DFS Agents: How Financial Sector Alternative Delivery Channels Create Business Opportunities for Women in Emerging Markets,” World Bank.

*References compiled from the source document titled "ppea2022037 - References."*

### 4.    https://hbr.org/2016/11/why-diverse-teams-are-smarter

### ppea2022037 - 4.    https://hbr.org/2016/11/why-diverse-teams-are-smarter

### Financial inclusion, fintech, and women in finance
- Sahay, R., M. Čihák, P. N’Diaye, A. Barajas, S. Mitra, A. Kyobe, Y.N. Mooi, and S.R. Yousefi, 2015, “Financial Inclusion: Can It Meet Multiple Macroeconomic Goals?” IMF Staff Discussion Note 15/17. International Monetary Fund, Washington, DC.
- Sahay R., and M. Čihák, 2018, "Women in Finance: A Case for Closing Gaps," IMF Staff Discussion Note 18/005. International Monetary Fund, Washington, DC.
- Sahay, R., U. Eriksson von Allmen, A. Lahreche, P. Khera, S. Ogawa, M. Bazarbash, and K. Beaton, 2020, “The Promise of Fintech: Financial Inclusion in the Post COVID-19 Era,” IMF Departmental Paper 20/09. International Monetary Fund, Washington, DC.
- Suri, T., and W. Jack, 2016, “The Long-run Poverty and Gender Impacts of Mobile Money,” Science 354(6317), 1288-1292.
- Women's World Banking, 2016, “Policy Frameworks to Support Women’s Financial Inclusion,” Alliance for Financial Inclusion.

### Women, employment, labor markets, and public sector
- Romero, J. M. and A. Kuddo, 2019, “Moving Forward with ALMPs: Active Labor Policy and the Changing Nature of Labor Markets”, Social Protection and Jobs Discussion Papers., World Bank, Washington, DC.
- Thévenon, O., 2013, “Drivers of Female Labour Force Participation in the OECD,” OECD Social, Employment and Migration Working Papers 145.
- Seguino, S., 2000, “The Effects of Structural Change and Economic Liberalization on Gender Wage Differentials in South Korea and Taiwan.” Cambridge Journal of Economics 24(4), 437–459.
- ________, 2010, “Gender, Distribution, and Balance of Payments Constrained Growth in Developing Countries.” Review of Political Economy 22(3), 373–404.
- Seguino, S., G. Berik, and Y. Rodgers, 2009, “Promoting Gender Equality as a Means to Finance Development.” Friedrich Ebert Stiftung Occasional Paper Series.
- Shi, R., K. Kay, and R. Somani, 2019, “Five Facts about Gender Equality in the Public Sector,” World Bank Blogs. https://blogs.worldbank.org/governance/five-facts-about-gender-equality-public-sector
- Strøm, R., B. D’Espallier, and R. Mersland, 2014, “Female Leadership, Performance, and Governance in Microfinance Institutions.” Journal of Banking and Finance Vol. 42, 60–75.

### COVID-19, mental health, and gendered impacts
- Santomauro, D.F., A.M.M. Herrera, J. Shadid, P. Zheng, C. Ashbaugh, D.M. Pigott, C. Abbafati, C. Adolph, J.O. Amlag, A.Y. Aravkin, and B.L. Bang-Jensen, 2021, “Global Prevalence and Burden of Depressive and Anxiety Disorders in 204 Countries and Territories in 2020 Due to the COVID-19 Pandemic,” The Lancet, 398(10312), 1700-1712.
- Tang, V., A. Santiago, Z. Khan, D. Amaglobeli, E. Dugarova, K. Gifford, L. Gores, J. Honda, A. Klemm, C. Renteria, A. Soler, S. Staab, C. Osorio-Buitron, and Q. Zhang, 2021, “Gender Equality and COVID-19: Policies and Institutions for Mitigating the Crisis,” IMF Special Series on COVID-19.
- Sahay, R., M. Čihák, P. Khera, and S. Ogawa, 2022, forthcoming, “Women and Finance in the Post-COVID World”, IMF Staff Discussion Note. International Monetary Fund, Washington, DC.

### Gender-based violence, shadow pandemic, and responses
- UN Women, 2020, “COVID-19 and Ending Violence Against Women and Girls,” EVAW COVID-19 Briefs.
- _______, 2021, “Measuring the Shadow Pandemic: Violence Against Women During COVID-19.”
- United Nations Development Programme (UNDP) and UN Women, 2021, “COVID-19 Global Gender Response Tracker, Version 2,” Global Factsheet, New York.

### Education, STEM, property rights, and time use
- UNESCO, 2017, “Cracking the Code: Girls' and Women's Education in Science, Technology, Engineering and Mathematics (STEM),” UNESCO Publishing, Paris, France.
- Toulmin, C., 2009, “Securing Land and Property Rights in Sub-Saharan Africa: The Role of Local Institutions,” Land Use Policy, 26(1), 10-19.
- Vickery, C., 1977, “The Time Poor: A New Look at Poverty,” The Journal of Human Resources 12(1), 27–48.

### Macroeconomic potential and gender parity
- Woetzel, J., A. Madgavkar, K. Ellingrud, E. Labaye, S. Devillard, E. Kutcher, J. Manyika, R. Dobbs, and M. Krishnan, 2015, “The Power of Parity: How Advancing Women’s Equality Can Add $12 Trillion to Global Growth,” McKinsey Global Institute.
- World Economic Forum, 2021, “Global Gender Gap Report 2021.”

### Other institutional and data resources
- UNCDF, 2016, “Agents: Why Focus on Women?” https://www.uncdf.org/article/3549/agents-why-focus-on-women
- World Bank, 2015, “Women, Business, and the Law 2015 Report,” World Bank, Washington, DC.
- _______, 2020, “Women, Business, and the Law 2020 Report.” World Bank, Washington, DC.
- _______, 2021, “Women, Business, and the Law 2021 Report,” World Bank, Washington, DC.

*IMF GENDER MAINSTREAMING STRATEGY—BACKGROUND PAPER*

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_Source: https://www.imf.org/-/media/files/publications/pp/2022/english/ppea2022037.pdf_