Eric LeCompte discusses the importance of leadership from women in global economic decisions. LeCompte speaks about his recent meeting with Treasury Secretary Yellen. Read an excerpt below, and click here for the full story.
What happens when women run the economy? We're about to find out
By Andrea Shalal
A study by the American Psychological Association showed that U.S. states with female governors had fewer COVID-19 deaths than those led by men, and Harvard Business Review reported that women got significantly better ratings in 360-degree assessments of 60,000 leaders between March to June 2020.
Women account for less than 2% of CEOs at financial institutions and less than 20% of executive board members, but the institutions they do run show greater financial resilience and stability, IMF research shows.
Eric LeCompte, a UN adviser and executive director of a non-profit that advocates for debt relief, said he noticed a clear difference during a meeting with Yellen and the leaders of Christian and Jewish faith groups last month.
“I’ve been meeting with Treasury secretaries for 20 years, and their talking points have been entirely different,” he said. “In every area we discussed, Yellen put an emphasis on empathy, and the impact of policies on vulnerable communities.”
Her male predecessors had a “brass tacks” approach that focused first on “numbers not people” and never mentioned words like “vulnerable,” he said.
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