The International Monetary Fund (IMF) has stated that it is unable to provide any comments regarding Ghana’s anti-LGBTQI bill, which was recently approved by Parliament but has not yet been signed into law.
In an email response to Joy Business, the IMF mentioned that they are not in a position to assess the economic and financial implications of a bill that has not been enacted.
The IMF also noted that its internal policies do not permit discrimination based on personal characteristics, including gender, gender expression, or sexual orientation. Emphasizing the importance of diverse and inclusive economies, the IMF stated that they are closely monitoring the developments in Ghana.
On the other hand, Ghana’s Ministry of Finance has raised concerns about potential financial repercussions if President Nana Akufo-Addo approves the anti-LGBTQI bill. The ministry warned that Ghana could lose approximately $3.8 billion in financial support from the World Bank if the bill becomes law. This loss would impact various development projects and the country’s foreign exchange reserves.
Furthermore, the US Ambassador to Ghana, Ms. Virginia Evelyn Palmer, expressed disappointment over the bill, stating that it would violate basic human rights and constitutional freedoms. She highlighted the negative impact the bill could have on public order, public health, Ghana’s international reputation, and economy. Ms. Palmer urged for the protection of the LGBTQ community and emphasized the importance of inclusivity for economic growth and investment in Ghana.
If the bill is enacted, Ghana may face significant economic consequences and potential loss of international financial support. The government’s decision regarding the bill could have lasting implications on the country’s development and global standing.
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