Ghana’s finance ministry is advising President Nana Akufo-Addo against endorsing a contentious anti-LGBT bill recently approved by parliament, citing potential repercussions of losing $3.8bn in World Bank funding over the next five to six years.
The bill proposes three years of imprisonment for identifying as LGBT+ and five years for promoting LGBT+ activities.
Facing an economic crisis and having received an IMF bailout last year, Ghana fears that any funding shortfall from the World Bank and other donors could hinder its recovery.
The finance ministry suggests deferring the bill’s signing until the Supreme Court assesses its constitutionality, a move unprecedented in Ghana.
President Akufo-Addo, currently in discussions with key ministries and donors, has seven days to decide on the bill once received, with an additional 14 days to provide reasons if he opts against signing it into law.
The US, UK, and human rights groups have condemned the bill, endorsed by both major political parties.
The IMF, monitoring developments, emphasises the values of diversity and inclusion. Ghana faces potential losses of $850m in support this year, impacting its fragile economy, foreign reserves, and exchange rate stability.
