IMF warns of pandemic’s toll on women after Morrison budget comes under scrutiny

SourceThe Guardian
SectorEconomy
CountryGCC

Lockdowns may aid economic recovery by helping to reduce coronavirus infections, leading to a short and sharp downturn, but they disproportionately harm women and young people, according to the International Monetary Fund. In its world economic outlook, released on Tuesday evening, the IMF called for policies targeted at women and young people to prevent “widening inequality” as a result of the Covid-19 recession. The intervention follows widespread criticism of the Morrison government’s budget for leaving women behind, with few gender-specific measures in its package of business tax concessions and hiring credits targeted at workers aged under 35. The IMF update projected a “less severe though still deep recession” in 2020 due to quicker emergence from lockdowns in May and June, with global growth down 4.4%, and a strong bounce back in 2021, with ...read more...