Ghana finance: Do not sign anti-LGBTQ+ bill, president urged.

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– Ghana’s finance ministry urges President Akufo-Addo not to sign the anti-LGBTQ+ bill to avoid losing World Bank funding
– The bill imposes jail time for identifying as LGBT+ and promoting LGBT+ activities

Ghana’s finance ministry advises against signing anti-LGBTQ+ bill

Ghana’s finance ministry has issued a warning to President Nana Akufo-Addo not to sign a controversial anti-LGBT bill that was recently passed by parliament. The ministry highlighted the potential loss of $3.8 billion in World Bank funding over the next five to six years if the bill becomes law. The bill imposes strict penalties, including jail time, for individuals who identify as LGBT+ or promote LGBT+ activities.

The finance ministry’s intervention in this matter is unprecedented in Ghana, reflecting the significant economic consequences the country could face if the bill is enacted. Ghana, which is already grappling with an economic crisis, fears that a reduction in funding from international donors like the World Bank could derail its ongoing recovery efforts. Last year, Ghana received a bailout from the International Monetary Fund (IMF), and any disruption in financial support could further strain the country’s economy.

President Akufo-Addo has been advised to delay signing the bill until the Supreme Court rules on its constitutionality. Human rights groups have already challenged the bill, but a court decision may take some time to materialize. The president has a limited timeframe to make a decision once the bill reaches his desk, with a seven-day window to decide on signing it into law and an additional 14 days to provide reasons if he chooses not to sign.

The bill, known as the Proper Human Sexual Rights and Ghanaian Family Values bill, has sparked international condemnation from countries like the US and the UK, as well as human rights organizations. The financial implications of the bill are significant, with projections suggesting that Ghana could lose around $850 million this year alone in funding support. This could further destabilize the country’s economy, affecting foreign reserves, exchange rates, and overall economic stability.

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