Women are making strides in leadership roles across the globe, including within the traditionally male-dominated field of central banking. Recent appointments in Bosnia and Herzegovina and Papua New Guinea have brought the total number of female central bank governors to 29, marking a significant increase from last year.
Despite this progress, the share of women leading central banks remains at a modest 16%, according to IMF. The Official Monetary and Financial Institutions Forum (OMFIF) highlighted this disparity in an April report, emphasizing the need for greater gender balance in top leadership positions.
According to research conducted by the International Monetary Fund (IMF), increased gender diversity in senior roles can contribute to a more diverse range of perspectives and checks and balances. This, in turn, can lead to improved economic and financial stability and enhanced performance.
Smaller economies have been instrumental in driving progress towards gender equality in central banking. The appointments in Bosnia and Herzegovina and Papua New Guinea this year are prime examples of this trend.
While the recent gains are encouraging, the overall picture remains far from parity. As the Chart of the Week illustrates, central banks still have a long way to go to achieve true gender equality among top policymakers.
