{"id":69784,"date":"2024-03-29T08:02:30","date_gmt":"2024-03-29T08:02:30","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows"},"modified":"2024-03-29T08:50:39","modified_gmt":"2024-03-29T08:50:39","slug":"anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows","title":{"rendered":"Anti-lgbtqi bill: We\u2019re aware of the likely implications on foreign exchange flows"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the bank and other key stakeholders are already aware of what the implications of the anti-lgbtqi bill will have on foreign exchange flows.<\/b><\/p>\n

He says the Ministry of Finance has already explained the potential impact of the bill on the economy.<\/p>\n

Asked whether the bank has analyzed the possible implications of the bill on its operations, while answering questions at the 117th Monetary Policy Committee (MPC) press conference in Accra on Monday, March 25, Dr Addison said \u201cThe Ministry [of Finance] has come out very clearly on what the implications are in terms of the possible loss of resources from the World Bank and all of that, so we are aware of what the implications of [anti-lgbtqi bill] could be on foreign exchange flows.<\/p>\n

\u201cAs of now, we are confident that at least in 2024 we will not see any major changes in our foreign exchange forecasts in terms of flows expected for this year. My assurance that the Cedi will be relatively stable also applies.\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

Addison explains why Ghana\u2019s economy is growing but the Cedi is depreciating<\/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

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

Africa-Press – Ghana. Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the bank and other key stakeholders are already aware of what the implications of the anti-lgbtqi bill will have on foreign exchange flows. He says the Ministry of Finance has already explained the potential impact of the bill on […]<\/p>\n","protected":false},"author":84,"featured_media":69783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-69784","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":"\nAnti-lgbtqi bill: We\u2019re aware of the likely implications on foreign exchange flows - Ghana<\/title>\n<meta name=\"description\" content=\"Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the bank and other key stakeholders are already ...\" \/>\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\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anti-lgbtqi bill: We\u2019re aware of the likely implications on foreign exchange flows\" \/>\n<meta property=\"og:description\" content=\"Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the bank and other key stakeholders are already ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows\" \/>\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=\"2024-03-29T08:02:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-29T08:50:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1711689409.329678.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=\"2 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\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Anti-lgbtqi bill: We\u2019re aware of the likely implications on foreign exchange flows\",\"datePublished\":\"2024-03-29T08:02:30+00:00\",\"dateModified\":\"2024-03-29T08:50:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows\"},\"wordCount\":416,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/03\/sm_1711689409.329678.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\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/anti-lgbtqi-bill-were-aware-of-the-likely-implications-on-foreign-exchange-flows\",\"name\":\"Anti-lgbtqi bill: We\u2019re aware of the likely implications on foreign exchange flows - 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