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IMF’s Lagarde says empowerment of women essential for Japan’s growth

September 16, 2014 | By admin

IMF Managing Director Lagarde is greeted by Japan's PM Abe at the entrance of the sushi restaurant Kozasa in TokyoAt the opening of the “World Assembly for Women,” International Monetary Fund (IMF) Managing Director¬†Christine Lagarde said if Japanese Prime Minister Shinzo Abe is able to meet his target of empowering women as a key part of his economic growth strategy, it could add substantially to the country’s annual growth.

In the said global conference, Lagarde disclosed that increasing the number of women in the workforce is important in the Prime Minister’s “Abeconomics,” which a key factor is bringing more women in different industries as a way to boost Japan’s growth.

When Abe took office late in 2012, he aimed at having women in 30% of management jobs by 2020.

“We think that these measures can really pay off – adding a quarter percent to growth each year if implemented aggressively,” commented Lagarde.

According to a recent study of the Organization for Economic Cooperation and Development, Japan ranks among the bottom on industrialized countries in terms of employing women with college degrees. The study revealed that only 69% of Japanese women with university degrees have jobs and Lagarde said the situation was worsened by a lack of daycare facilities and other support.

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