Ghana’s Ministry of Finance has asked President Akufo-Addo not to sign the recently passed anti-LGBTQ bill by Parliament.
According to the Ministry, Ghana stands to lose World Bank financing, estimating a potential loss of $3.8 billion over the next five to six years.
The Ministry also stated that in 2024, there could be losses of $600 million in budget support and USD$250 million for the Financial Stability Fund if the bill is signed into law.
Ghana’s Parliament last week passed an Anti-LGBTQ bill that would criminalise LGBTQ expression and LGBTQ activities in the country.
The IMF recently put out a statement stating that they were “observing” the newly passed Anti-LGBTQ bill. The organization’s internal policies prohibit discrimination based on personal characteristics, including but not limited to gender, gender expression, or sexual orientation.
Ghana recently signed up to a $3 Billion agreement with the IMF in 2023.
The $3 billion agreement which signed in 2023, is the largest IMF programme Ghana has undertaken in its history.
