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Anti-LGBTQ+ Bill: Ghana to lose $3.8bn If you sign the bill - Finance Ministry ‘cautions’ Akufo-Addo

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2 months ago
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The Ministry of Finance has explained to President Nana Addo Dankwa Akufo-Addo reasons why the passage of the anti-LGBTQ bill by Parliament should not be approved into law.

A statement by the Ministry on Monday, March 4, says any attempt to assent the bill into law will have serious financial consequences on Ghana's economy.

“In total, Ghana is likely to lose US$3.8 billion in World Bank Financing over the next five to six years. For 2024 Ghana will lose US$600 million Budget support and US$250 million for the Financial Stability Fund. This will negatively impact on Ghana’s foreign exchange reserves and exchange rate stability as these inflows are expected to shore the country’s reserve position.” A portion of the statement read.

Adding that, “H.E. the President may have to defer assenting to the Bill until the court rules on the legal issues tabled by key national stakeholders (CSOs and CHRAJ).”