The Ministry of Finance has petitioned President Akufo-Addo to consider the economic implications the passage of the anti-LGBTQ bill will have on the country.
According to the Finance Ministry in a press release on Monday, March 4, approving the bill could result in significant financial consequences for Ghana from international organisations.
“The expected US$300 million financing from the First Ghana Resilient Recovery Development Policy Operation (Budget Support) which is currently pending Parliamentary approval might not be disbursed by the Bank when it is approved by Parliament as well as ongoing negotiations on the Second Ghana Resilient Recover Development Policy Operation (Budget Support) amounting to US$300 million may be suspended; On-going negotiations for US$250 million to support the Ghana Financial Stability Fund may be suspended; Disbursement of undisbursed amounts totalling US$2.1 billion for on-going projects will be suspended”, portion of the release read.
The Ministry, to address this challenge is calling on the President to engage with religious bodies to discuss the implications of signing the bill and to establish a robust coalition and framework for supporting key development initiatives.
“The Presidency may have a structured engagement with local conservative forces such as religious bodies and faith-based organisations to communicate the economic implications of the passage of the ‘Anti-LGBTQ’ Bill and to build a stronger coalition and a framework for supporting key development initiative that is likely to be affected”, the ministry of finance recommended.
“The President may have to defer assenting to the Bill until the court rules on the legal issues tabled by key national stakeholders (CSOs and CHRAJ),” the release added.
READ THE STATEMENT FROM THE FINANCE MINISTRY BELOW:
