Home News Ghana’s Finance Ministry Urges President Not To Sign Controversial Anti-LGBT Bill
News

Ghana’s Finance Ministry Urges President Not To Sign Controversial Anti-LGBT Bill

385

Ghana’s finance ministry has aised concerns over a controversial anti-LGBT bill recently passed by parliament, urging President Nana Akufo-Addo not to sign it into law.

The ministry warns of potential repercussions, including a loss of $3.8 billion in World Bank funding over the next five to six years. The bill proposes harsh penalties, such as three years’ imprisonment for identifying as LGBT+ and five years for promoting LGBT+ activities.

Amidst Ghana’s economic crisis and previous IMF bailout, the finance ministry emphasised the risk of further economic instability should funding from the World Bank and other donors be compromised. The leaked warning, an uncommon move, advised the president to await the Supreme Court’s ruling on the bill’s constitutionality before taking action.

President Akufo-Addo has a limited timeframe to decide on the bill, with seven days to sign it into law and 14 days to provide reasons if he chooses not to.

Meanwhile, he is engaging with key ministries and donors to evaluate the bill’s potential impact.

International condemnation of the bill has already been voiced by the US, UK, and human rights groups. Notably, the World Bank’s previous response to similar legislation in Uganda, freezing new loans, underscored the significance of global repercussions.

Despite the IMF’s refrain from commenting on unsigned bills, it emphasises the values of diversity and inclusion. With Ghana facing a potential loss of $850 million in support this year alone, officials warn of adverse effects on the struggling economy, foreign reserves, and exchange rate stability.

Read more: UEFA announces new format for 2024/2025 Champions League 

About The Author

Related Articles

FinanceNews

Axian Energy Secures Funding to Build Solar Plants With 60 MW Capacity in Kolda, Senegal

Two new solar power plants with a combined 60 MW capacity will...

NewsWorld

The FBI, CIA, DEA Just Delivered the Biggest Blow to Democracy in Africa

I just read the document detailing the United States’ multiagency defense of...

FinanceNews

Customs Hits N5.07 Trillion Revenue Target Following Forex Crisis and Higher Tariffs

The Nigeria Customs Service (NCS) announced on Tuesday that it has met...

FinanceNews

Argentina’s Monthly Inflation Drops to 2.7% Following Cuts in Government Spending and Subsidies

Argentina’s monthly inflation dropped to 2.7 per cent in October, reaching its...