Women in particular are the victims of the skyrocketing inflation that European economies are struggling with. This was stated by the directors of the European Central Bank (ECB), Christine Lagarde, and of the World Trade Organization (WTO), Ngozi Okonjo-Iweala. “The least paid are women.”
Lagarde also warns of the consequences for “reduced globalization”. This could have “implications for women’s empowerment”. She argues that in “developing countries” more women work for companies that trade internationally. As a result, women would be particularly hard hit if world trade were to slow down due to the economic malaise.
“The least paid are women”
During her International Women’s Day speech, Lagarde also stressed that the ECB will do “whatever it takes” to contain inflation in order to stabilize prices. According to Lagarde, the ECB will make every effort to achieve this goal. The central bank has been raising interest rates for some time to counter inflation. You said that high inflation primarily affects vulnerable people. “It’s not a good situation.”
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
