The Finance Ministry has advised President Akufo-Addo not to sign the Anti-LGBTQ+ Bill into law due to potential financial repercussions.
According to a statement released on Monday, signing the bill could jeopardize the country’s financial support from international organizations like the Bretton Woods Institutions.
The Ministry expressed concerns that the expected US$300 million financing from the First Ghana Resilient Recovery Development Policy Operation (Budget Support) may not be disbursed if the bill is signed into law. Additionally, ongoing negotiations on the Second Ghana Resilient Recovery Development Policy Operation (Budget Support) amounting to US$300 million could be suspended.
These outcomes could result in a significant loss of financial resources, leading to a financing gap in the 2024 budget. To address these challenges, the Ministry recommended that the President engage with religious bodies to discuss the implications of signing the bill and establish a coalition and framework for supporting key development initiatives.
It was suggested that the President postpone assenting to the bill until the court rules on the legal issues raised by key national stakeholders. The Anti-LGBTQ+ Bill was approved by Parliament on February 28, 2024, criminalizing LGBTQ activities and prohibiting their promotion, advocacy, and funding.
Under the legislation, individuals convicted of such acts could face 6 months to 3 years in prison, while those promoting or sponsoring such activities could be sentenced to 3 to 5 years behind bars. The bill’s passage has sparked criticism from various stakeholders, including the United States Ambassador to Ghana, Virginia Evelyn Palmer.
