E/2010/27 E/CN.6/2010/11 patrilineal lines. Priority should be given to enhancing women’s knowledge of their rights and enforcing legislation and policies that will ensure their equal access to and control over economic resources. 8. The current global financial and economic crisis poses a challenge to progress in gender equality in many areas. Evidence from some countries suggests that while more men may become unemployed as a result of economic crisis, unemployment among women is more persistent. Certain groups of women, such as migrant women and domestic workers, are especially vulnerable during times of economic downturn. The diminished flow of remittances negatively impacts households in countries of origin. Economic hardship and lack of jobs can also mean that women are more vulnerable to trafficking. 9. The financial crisis is a product of the deregulated financial sector which focused on profit maximization at the expense of people. The emphasis on low inflation and fiscal balance has not delivered strong and sustained economic growth. Neglect of domestic demand and dependence on exports has made developing countries vulnerable to market fluctuations and created an environment that has not been conducive to women’s economic empowerment. The financial and economic crisis presents an opportunity to implement and strengthen gender-sensitive policies, programmes and strategies. Economic policies and planning processes should pay systematic attention to the priorities and needs of women and girls with a view to promoting the equitable distribution of resources. Policies should focus on employment creation and pro-poor growth that benefits all women and men. Women should be seen as agents of change in the response to the crisis. 10. Expansionary fiscal policies can alleviate the negative impacts of the financial and economic crisis on both women and men. Fiscal policies should prioritize investment in development, education, health and infrastructure. The financial and economic crisis should not be used as an excuse to reduce budget allocations that could benefit women. Financial resources for the promotion of gender equality can be generated through reductions in military spending which is globally estimated to be $1,464 billion in 2008, an amount equal to the more than 24 years of additional aid required to realize the Millennium Development Goals by 2015. Gender-responsive budgeting can be used as a tool for ensuring that sufficient resources are allocated and spent to promote gender equality and women’s empowerment in the response to the financial and economic crisis. Mechanisms such as gender equality observatories can be instrumental in monitoring the responsiveness of budgets and economic policies to the promotion of gender equality and women’s empowerment. 11. Countries are responding to the crisis and its consequences with a diverse range of policies and measures, depending on the impact of the crisis, the availability of resources and the capacity of governments to implement counter-cyclical fiscal and monetary policies. While responses include government bailouts of the financial sector and private companies, there are concerns that the sustainability of the financial sector is given priority over the well-being of households adversely affected by the crisis. 12. In response to the crisis, a number of governments have introduced employment guarantee schemes, public service employment programmes, food 48 10-30576