{"id":68083,"date":"2024-03-05T18:46:26","date_gmt":"2024-03-05T18:46:26","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=68083"},"modified":"2024-03-05T17:10:58","modified_gmt":"2024-03-05T17:10:58","slug":"finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist","title":{"rendered":"Finance Ministry\u2019s statement on effect of anti-lgbtqi bill is premature \u2013 Economist"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>An Economist at the University of Ghana Business School, Dr Patrick Asuming has said that the statement that was issued by the Finance Ministry asking the president not to sign the anti-gay bill due to the dreadful financial implication it will have on Ghana\u2019s economy is premature.<\/b><\/p>\n

He says that it is not in the place of the Finance Ministry to tell the president what to do because the people of Ghana, through their representatives in parliament, knew the nature of the bill that they were passing.<\/p>\n

Speaking in an interview with Beatrice Adu on the mid-day on Monday, March 4, Dr Asuming said \u201cI think the Finance Ministry has gone ahead of itself a little bit. I think this statement is somehow premature. The Finance Ministry shouldn\u2019t think that Ghanaians, through their representatives in parliament, didn\u2019t know the law that they were passing.<\/p>\n

\u201cRight from the beginning we have heard from the same development partners sounding the warning of what may happen when the bill is passed but we have to understand that the Finance Ministry cannot use its position as Finance Ministry to stampede the process and to tell the president to override the feelings of the ordinary Ghanaians as expressed through the Parliament of Ghana.<\/p>\n

\u201cSo while the possible financial implications may be real I don\u2019t think it is in the place of the Finance Ministry to tell the president not to sign the bill that the people who have passed.<\/p>\n

\u201cDon\u2019t forget that Ghanaians are economic beings but we are also social beings, we are political beings, and cultural beings and it is for Ghanaians to decide if. If you say this bill has economic implications it is for Ghanaians to decide which cause of action to take.\u201d<\/p>\n

The Ministry of Finance on Monday, March 4 pointed out dreadful implications of the president assenting to the anti-LGBTQ+ Bill.<\/p>\n

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.<\/p>\n

\u201cIn 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\u2019s foreign exchange reserves and exchange rate stability as these inflows are expected to shore up the country\u2019s reserve position,\u201d part of the brief cited.<\/p>\n

The Ministry of Finance provided the details as follows:<\/p>\n

The Ministry cautioned that, \u201cThe 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\u2019s ability to achieve the targets in the 2024 Budget will be undermined and the IMF-ECF Programme is likely to be derailed.\u201d<\/p>\n

Parliament on February 28 passed the Promotion of Human Sexual Rights and Ghanaian Family Values Bill.<\/p>\n

\u201c3rd reading of the anti-lgbtq Bill passed by parliament, the bill has been passed,\u201d Parliamentary correspondent Komla Klutse reported.<\/p>\n

Since then, some stakeholders have expressed disquiet about the passage of the Bill.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. An Economist at the University of Ghana Business School, Dr Patrick Asuming has said that the statement that was issued by the Finance Ministry asking the president not to sign the anti-gay bill due to the dreadful financial implication it will have on Ghana\u2019s economy is premature. He says that it is […]<\/p>\n","protected":false},"author":84,"featured_media":68082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-68083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nFinance Ministry\u2019s statement on effect of anti-lgbtqi bill is premature \u2013 Economist - Ghana<\/title>\n<meta name=\"description\" content=\"An Economist at the University of Ghana Business School, Dr Patrick Asuming has said that the statement that was issu ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Ministry\u2019s statement on effect of anti-lgbtqi bill is premature \u2013 Economist\" \/>\n<meta property=\"og:description\" content=\"An Economist at the University of Ghana Business School, Dr Patrick Asuming has said that the statement that was issu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-05T18:46:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1709645945.925518.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Finance Ministry\u2019s statement on effect of anti-lgbtqi bill is premature \u2013 Economist\",\"datePublished\":\"2024-03-05T18:46:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist\"},\"wordCount\":553,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1709645945.925518.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/finance-ministrys-statement-on-effect-of-anti-lgbtqi-bill-is-premature-economist\",\"name\":\"Finance Ministry\u2019s statement on effect of anti-lgbtqi bill is premature \u2013 Economist - 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