Women in developing countries hardest hit by rising debt burden, UN research finds

"The research underlined the importance for debtor countries of weighing the impact of potential spending cuts. Even before the US-Israel war on Iran, 56 countries were spending more than 10% of government revenue on servicing their debts."

"When you make those choices as governments, please be careful: if you reduce your social spending, you should know that big chunk of social spending is going to women, and a bigger part of the employment that social spending is going to it's going to women."

"Between the early 2010s and 2022, debt-servicing burdens in the 85 developing countries studied almost doubled, leading to the loss of 22 million women's jobs in the short-term, and more than 38 million in the long term."

"Moving from a moderate to a high debt-servicing burden causes on average a 17% decline in women's income per capita."

Rising debt burdens in developing countries significantly impact women, particularly in sectors like education and care. As governments reduce public spending to manage debt, women face job losses and increased caregiving duties. The UNDP report indicates that between the early 2010s and 2022, debt-servicing burdens nearly doubled, resulting in the loss of 22 million women's jobs short-term and over 38 million long-term. The ongoing conflict in the Middle East is expected to worsen this situation, with rising costs and interest rates further straining government budgets.

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