Women in Developing Nations Face Debt Crisis Impact
UN research reveals that women in developing countries are disproportionately affected by rising debt burdens. Discover how this crisis threatens jobs and increases unpaid care duties for millions.
The Rising Debt Burden on Women
A recent UN report highlights the alarming impact of rising debt on women in developing countries. Based on data from 85 countries over three decades, it reveals that as governments cut public spending to manage debt, women—who are predominantly employed in education and care sectors—face significant job losses.
The report indicates that between the early 2010s and 2022, the debt-servicing burdens in these countries nearly doubled, resulting in an estimated loss of 22 million women's jobs in the short term and over 38 million in the long term. This shift not only affects employment but also leads to increased unpaid care responsibilities for women, as they are often left to fill the gaps left by reduced state support.
- •Key findings from the report include:
- •A 17% decline in women's income per capita as debt burdens rise.
- •No significant change in men's income during the same period.
- •A decline in life expectancy for both genders.
The UN emphasizes the need for debtor countries to consider the gendered impact of their financial decisions, urging creditor nations to link debt relief with commitments to protect social spending that benefits women.