President Akufo-Addo has been notified by the Ministry of Finance not to enact the Anti-LGBTQ+ Bill into law due to possible financial consequences from global institutions such as the Bretton Woods Institutions.

The Ministry is concerned that approving the bill may put important funding—including an estimated $300 million from the First Ghana Resilient Recovery Development Policy Operation—in jeopardy.

Other funding initiatives and talks for the Second Ghana Resilient Recovery Development Policy Operation might also be impacted.

Ministry of Finance Urges Caution on the Anti-LGBTQ+ Bill
Ministry of Finance Urges Caution on the Anti-LGBTQ+ Bill

If the law is passed, Ghana could lose a sizable amount of World Bank funding, estimated to be worth US$3.8 billion over the course of the next five to six years, the ministry said.

Budgetary support, financial stability funds, and ongoing projects are likely to be impacted by this loss.

Given the bill’s possible detrimental effects on the economy and foreign relations, security analyst Farouk Al Wahab believes President Akufo-Addo will probably not sign it.

He stresses how crucial it is to uphold Ghana’s sovereignty in the face of external opposition.

Farouk al-Wahab

The formal procedure for sending the bill to the president for ratification has not yet been finalized by Parliament. Although the parliament has approved the bill, it still needs to be finalized and authenticated before it can be signed into law and sent to the president’s office.

Internationally and locally, the bill’s passage has generated conflicting responses. Critics point to its consequences for international relations and human rights, while supporters of its preservation of cultural values are outnumbered.

The Ningo-Prampram Member of Parliament, Samuel George Nartey, claims that even if American companies decide to leave Ghana once the bill is passed, the country’s economy won’t crumble.

Samuel George Nartey

He highlights Ghana’s legislative autonomy and calls on African countries to be resolute in their decisions.

President Akufo-Addo reaffirmed to the global community Ghana’s dedication to human rights and the rule of law.

He stresses the significance of adhering to legal procedures, particularly in light of the ongoing Supreme Court appeal to the validity of the bill.

Netizens are in awe of the president’s contemplation and hesitation to enact the pending bill, saying the president did not hesitate to sign the e-levy bill into law despite a Supreme Court suit, but he’s now saying we are to wait for the Supreme Court on the anti-LGBTQ+ bill before a decision is taken.

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