The Ghanaian finance ministry has issued a stern warning to President Nana Akufo-Addo, urging him to refrain from signing a contentious anti-LGBT bill recently passed by parliament. Concerns mount over potential repercussions, with Ghana facing a substantial loss of $3.8bn (£3bn) in World Bank funding over the next five to six years should the bill be enacted into law.
The proposed legislation imposes severe penalties, including three years’ imprisonment for identifying as LGBT+ and five years for promoting LGBT+ activities. Against the backdrop of Ghana’s ongoing economic challenges, exacerbated by a recent bailout from the International Monetary Fund (IMF), the potential loss of crucial financial support threatens to derail the country’s fragile recovery efforts.
In an unprecedented move, the finance ministry’s admonition was leaked to various media outlets, including the BBC, underscoring the gravity of the situation. The ministry advocates for a cautious approach, advising President Akufo-Addo to withhold assent until the Supreme Court adjudicates on the bill’s constitutionality—a process likely to entail considerable delay given pre-existing legal challenges.
President Akufo-Addo faces a pivotal decision, with a seven-day window to deliberate upon receipt of the bill and an additional 14 days to articulate his rationale if he opts against signing it into law. As consultations ensue with key ministries and donor agencies to assess the bill’s ramifications, international condemnation mounts, echoing sentiments expressed by the US, UK, and prominent human rights organizations.
The World Bank’s previous freeze on loans to Uganda in response to similar anti-LGBT legislation serves as a cautionary tale, highlighting the potential repercussions of discriminatory policies on international funding. While the IMF refrains from commenting on pending legislation, it underscores the principles of diversity and inclusion as integral to its ethos.
Ghana’s precarious economic landscape faces further jeopardy, with an estimated loss of $850m (£670m) in support anticipated this year alone. Such a setback threatens to exacerbate existing economic woes, depleting foreign reserves, and jeopardizing exchange rate stability.
Amid mounting pressure and diplomatic scrutiny, Ghana stands at a crossroads, confronted with the imperative to uphold fundamental human rights while navigating the intricacies of economic recovery. The outcome of this deliberation holds profound implications for Ghana’s international standing and the preservation of its democratic values in the face of mounting external pressures.
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