legislator do? offer a chance, but the chance should be used. a person should believe that the chance is not only a dead letter, a quota. evidence is needed that the chance is real. but these are only successful examples. examples at all levels. because society is led by the best, but society also needs the average ones whom we must promote. let us not forget that official state policies also play a role in the division of responsibilities of both parents. it is not only that state policies aim to equalise the cost of labour for men and women. they can affect, often indirectly, the companies ’ decisions on who to promote more or more frequently. in serbia, the state guarantees a year of paid maternity leave for the first and second child. the leave can be used either by the mother or the father. for the third and fourth child, this period is two years. unfortunately, sometimes policies that seem neutral at first sight in fact widen the gap between men and women. for instance, some universities introduce the possibility for men to go on maternity leave. some men use such leave to write books and carry out research, and not to look after the baby. in this way, they ensure advantage over other colleagues. i do not wish to generalise, i ’ m just giving examples. what is the situation in serbia? from a legal perspective, citizens of serbia enjoy gender equality guaranteed by the constitution. through generations, a lot has been done to raise social awareness about the fact that there are no special women ’ s rights, but the obligation of society and each individual to consistently respect the basic human rights. in serbia, women make up 56 % of students who enrol in universities, and as much as 58 % of those who graduate. women take a lead in phd studies as well, whereby they have an educational advantage over men in serbia. 2 / 3 bis central bankers'speeches women in government institutions in the government of the republic of serbia, the situation today is much more favourable. women take five places – including the president of the government and four ministerial positions. the number of women in government institutions is increasing as well. one third of the total number of mps in the serbian assembly are women, which is almost five times more than ten years ago. in serbia ’ s financial sector as the central bank governor, i can say that i am proud that women in serbia are dominant in the financial sector. women in serbian banking make up the majority of employees, though they are

somewhat less present on managerial jobs. women are executive board presidents in ten of 29 banks, and presidents of the boards of directors of five banks. in terms of activity, women in serbia are the best paid in financial activities. at the national bank of serbia when it comes to the national bank of serbia, which i head for the sixth year, i can freely say that gender equality is respected and implemented. the bank has been operational for almost 134 years already, with women governing the bank for somewhat more than six years. the bank has had 31 governors, of whom two women. ( the first was elected in 2003 and endured only several months, whereas i am into the sixth year of my term. ) however, chronologically, women ’ s involvement in managing central banks is dominant in the 21st century. it has often been the case that women make up the majority of members of the executive board of the national bank of serbia. they thus had the key influence on making strategic decisions. today, women at the national bank of serbia take the position of the governor and a vicegovernor. ten of 21 general managers at the bank are women. furthermore, of total 189 managers, 115 ( 58 % ) are women, while 83 are men ( 42 % ). let me conclude. women ’ s participation in senior management positions still lags behind the participation of men. the ratio is usually one to five. women are not less ambitious than men, but the time when women merit the first managerial position overlaps with the time when they start a family. the legislator can offer a chance, but the chance should be used. one should believe that the chance is not only a dead letter, a quota. evidence is needed that the chance is real. because society is led by the best, but society also needs the average ones whom we must promote. i can personally confirm that at the national bank of serbia which i head for the sixth year there are no quotas for the promotion of women to managing positions. the persons currently heading the bank ’ s organisational parts are experts with considerable experience. i know that such a balanced and modern approach has given a significant contribution to the great success that the national bank of serbia has achieved in fulfilling its mandate. thank you for you invitation. i wish that next year both statistics and the reality improve in favour of women. 3 / 3 bis central bankers'speeches