President Joe Biden’s administration is ramping up its diplomatic efforts to address what it calls the “root causes” of Central America’s migration crisis. Early next month, U.S. Vice President Kamala Harris will travel to Guatemala—part of a two-country trip that also includes a stop in Mexico—in hopes of making progress on efforts to address the poverty, violence and corruption that force Central Americans to flee the region. But while the administration’s approach to Central America has some promising elements overall, it faces stiff headwinds in the region. Last week, Congress released a list of 16 current and former Central American [...]
In many parts of the world, particularly in emerging markets, women are at a stark disadvantage when it comes to obtaining a loan. Studies have shown that expanding access to credit for women would spur economic growth, yet the financial gender gap remains stubbornly wide. In fact, there are more than 70 countries where women cannot even open a bank account. According to Mary Ellen Iskenderian, president and CEO of the nonprofit Women’s World Banking, emerging financial technologies, or fintech, have the potential to revolutionize access to credit for women in low-income countries by allowing them to receive loans from [...]
In 2015, a report from the McKinsey Global Institute found that up to $28 trillion could be added to global GDP by 2025 if women were allowed to achieve their full economic potential. Yet according to the World Economic Forum, there are more than 70 countries where women are not allowed to open bank accounts or obtain credit. The gender gap in financial account penetration tends to be widest in certain emerging markets, like South Asia, sub-Saharan Africa and parts of the Middle East. Even when financial services are available to them, women often face bias and discrimination at various [...]
