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In a press release, the Ministry of Finance begged President Nana Addo Dankwa Akufo-Addo not to sign the recently passed Anti-LGBTQ+ Bill into law.
The Ministry voiced worries about the possible negative impact on the nation’s ability to receive financial assistance from foreign institutions, specifically the Bretton Woods Institutions.
The Finance Ministry emphasized the risk of jeopardizing the anticipated US$300 million financing from the First Ghana Resilient Recovery Development Policy Operation (Budget Support) in a statement that was made public on Monday, March 4. The financing is currently awaiting parliamentary approval.
There’s concern that this funding might not be released if the bill becomes law. Furthermore, the ongoing discussions regarding the $300 million Second Ghana Resilient Recovery Development Policy Operation (Budget Support) may come to an end.
The Finance Ministry underlined that these possible consequences can lead to a large loss of financial resources, resulting in a funding shortfall in the budget for 2024. In order to tackle these obstacles, the ministry requested that the President meet with religious organizations to talk about the ramifications of signing the legislation and to build a strong alliance and structure for backing important development projects.
According to the news release, “The Presidency may have a structured engagement with local conservative forces such as religious bodies and faith-based organizations 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 initiatives that are likely to be affected.”
It was also suggested by the Finance Ministry that “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).”
This circumspect attitude is viewed as a calculated measure to reduce any financial risks and guarantee continued assistance from foreign partners.
Read the full statement below:
Source: Ghanatodayonline.com
