International Monetary Fund (IMF) has published a new report stating the rise of women who are serving as Central Bank governors by 26% in the past year. Considering this rise, the number of female governors has been going up from 23 to 29.
However, the percentage remains at only 16 where women can be seen in leadership across the 185 Central Banks of the world, according to the April report of Official Monetary and Financial Institutions Forum (OMFIF).
As the report states, the appointment of females is always at a high in leading central banks but the current share is far from attaining gender parity. Females continue to face major challenges in their leadership roles in central banks all across the world, despite having all the progresses.
Highlighting the diverse range of perspectives, the research says greater gender balance will help to achieve the same in senior roles. This can happen by enhancing checks and balances as well, which will result in an increased economic and financial stability.
Attaining equality or parity can change the society and help it to grow in many aspects but specifically in the economy where all the genders are putting equal efforts for the society to grow.
