Africa-Press – Ghana. The Ministry of Finance has pointed out dire implications of assenting to the anti-LGBTQ+ Bill passed by Parliament.
In a brief on the implications of assenting to the Bill by President Akufo-Addo, the Ministry of Finance said the country stands to lose huge financial support from the Bretton Woods institutions.
“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 Ghana’s foreign exchange reserves and exchange rate stability as these inflows are expected to shore up the country’s reserve position,” part of the brief sighted.
The Ministry of Finance provided the details as follows:
The Ministry cautioned that, “The potential loss of these financial resources will create a financing gap in the 2024 budget that the government must address through additional domestic revenue mobilisation and a significant reduction in expenditure. Failing this, Government’s ability to achieve the targets in the 2024 Budget will be undermined and the IMF-ECF Programme is likely to be derailed.”
Parliament on February 28 passed the Promotion of Human Sexual Rights and Ghanaian Family Values Bill.
Parliament passes anti-LGBTQI bill
“3rd reading of the anti-lgbtq Bill passed by parliament, the bill has been passed,”Parliamentary correspondent Komla Klutse reported.
Since then, some stakeholders have expressed disquiet about the passage of the Bill.
‘I am saddened’ – US Ambassador to Ghana on passage of anti-LGBTQ+ Bill
Anti-LGBTQ Bill: Group calls on President not to assent when passed
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