Debt

Women are feeling the economic crisis of the world’s debt. For when taxes increase and economic adjustment programs alter situations, women feel the brunt of the change. For “when governments cut back spending on social and heath services to cope with their debt burden, poor household, of which women headed households are a disproportionate share, bear the brunt of these cuts” according to Seager. In addition, in 2008 it was estimated that women make up seventy percent of the world’s poor, and that only eight percent of the World Bank’s executive directors are women. Lastly, Seager mentions that it is the income from women working that keeps households going.

The fact that the World Bank is made up of mainly male executive directors, and that they make decisions that greatly effect mostly women disgusted me. Women need to have a say in the processes that are being made to reduce world debt. In addition, how much of the debt of the women was caused by a male figure? Possibly a man caused a woman to become pregnant, and then kicked her out onto the street with no money. Or maybe he left her with a huge house payment with no source of income. Situations such as this occur in many countries on a daily basis, and the women are left with the mess to clean up. It is unfair for men to abuse their power and put women in such places in life.

This is in accordance to the fact that women make less money than men typically. How is a woman suppose to repay her debt when she does not even make decent wages as compared to men? The fact that jobs are typically managed by male figures, and this influences their pay is unjust. Plus, males control the amount of money that woman must expend on taxes and property each year. Obviously more women need to have roles in the development of financial projects, and they need to be compensated more fairly than the current situation.

Seager, J. The Penguin Atlas of Women in the World. Brighton: Myriad Editions Limited, 2009,
90-91.