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PRESS RELEASE: Ghana will Lose US$3.8 Billion If You Pass Anti Gay Bill – Ministry of Finance

Ghana will Lose US$3.8 Billion If You Pass Anti Gay Bill - Ministry of Finance

The Ministry of Finance says Ghana is likely to lose US$3.8 billion in World Bank Financing over the next five to six years and also derail the International Monetary Fund (IMF) programme if anti gay bill is assented to.

The Ministry in a statement catalogued a number of challenges Ghana may grapple with as a result of the passage of the LGBTQ+ passage by Parliament.

“The expected US$300 million financing from the First Ghana Resilient Recovery Development Policy Operation (Budget Support) which is currently pending Parliamentary approval might not be disbursed by the Bank when it is approved by Parliament.;

“On-going negotiations on the Second Ghana Resilient Recovery Development Policy Operation (Budget Support) amounting to US$300 million may be suspended; On-going negotiations for US$250 million to support the Ghana Financial Stability Fund ay be suspended;

“Disbursement of undisbursed amounts totaling US$2.1 billion for on-going projects will be suspended; and Preparation of pipeline projects and declaration of effectiveness for two projects totaling worth US$900million may be suspended. Full details of the World Bank portfolio are attached as Appendix 1 & 2.

“In total, Ghana is likely to lose US$3.8 billion in World Bank Financing over the next five to six years. For 2024 Ghana will lose US$600 million Budget support and US$250 million for the Financial Stability Fund.

This will negatively impact on Ghana’s foreign exchange reserves and exchange rate stability as these inflows are expected to shore the country’s reserve position.”

Background

After three years of deliberation, Parliament has approved the highly contentious Anti Gay bill.

Speaker of Parliament, Alban Bagbin initiated a voice vote on the bill after the third reading.

ALSO READ: We’ll include private schools in free SHS programme — Mahama

When he posed the question, “those in favor that the Human Sexual Rights and Family Values bill, 2021, be taken through the third reading say I,” numerous MPs voiced their support.

However, there was no response when the speaker called for those in opposition to speak up. With no opposition voiced, Speaker Bagbin declared the bill passed.

The Anti Gay bill which was passed on Wednesday February 28, will only take effect if President Akufo-Addo signs it into law.

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Insider Betrayal? Gabby Otchere ‘s Shocking LGBTQ+ U-Turn Sparks Outrage!

Insider Betrayal? Gabby Otchere 's Shocking LGBTQ+ U-Turn Sparks Outrage!

In a move that has sent shockwaves through Ghana’s socio-political landscape, Gabby Otchere-Darko, a prominent figure within the ruling New Patriotic Party (NPP), has openly called upon opponents of the newly passed anti-LGBTQ bill to seek legal redress. His statement, advocating for a constitutional challenge against the bill, comes amidst growing tensions and widespread international criticism over Ghana’s stance on LGBTQ+ rights.

Gabby Otchere Darko’s urging for legal action against the Anti LGBTQ+ has ignited a firestorm of debate, with many questioning the sincerity and practicality of his advice, given his influential position within the government. Critics argue that Otchere-Darko, rather than merely suggesting a legal route for others, should leverage his own political power to foster change or directly confront the legislation that has polarized the nation.

The anti-LGBTQ+ bill, hailed by some for upholding traditional Ghanaian values, has been condemned by others as a severe infringement on human rights. It prescribes up to three years in prison for individuals convicted of identifying as LGBTQ+, and up to five years for those who support LGBTQ+ groups financially or otherwise.

ALSO READ: Startling Reality of Ghana ‘s Anti-LGBTQI Bill Revealed (ghanaeducation.org)

Gabby Otchere-Darko ‘s comments on X, emphasizing the democratic process and the anti- LGBTQI+ bill ‘s popularity in Ghana, have done little to quell the uproar. Gabby Otchere ‘s call to action, grounded in faith in Ghana’s democratic institutions, contrasts sharply with the silence from many within his party and the government, who fear political repercussions for opposing the bill.

The Commissioner of the Commission on Human Rights and Administrative Justice (CHRAJ), Joseph Whittal, echoed Gabby Otchere-Darko ’s sentiments, predicting that the bill, if signed into law by the President, would face significant legal challenges. Whittal’s cautionary stance highlights the potential constitutional conflicts the bill poses, particularly concerning human rights.

The controversy surrounding Gabby Otchere-Darko’s comments points to a larger, more complex debate about the balance between cultural values and human rights in Ghana. While Otchere-Darko frames the legal challenge as a demonstration of Ghana’s robust democracy, his critics see it as a reluctant nod to progressive values from a position of safety and power, without the willingness to confront the issue head-on.

ALSO READ: A Step Backwards? Ghana ‘s Pentecostal Council Praises Passage of Polarizing Anti-LGBTQI Bill (ghanaeducation.org)

As Ghana stands at a crossroads, the actions of its leaders and the outcomes of potential legal battles will not only determine the future of LGBTQ+ rights in the country but also test the strength and integrity of its democratic institutions. The controversy surrounding Gabby Otchere -Darko’s call to action reflects the broader tensions within Ghanaian society over identity, rights, and the true meaning of democracy.

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We will sue if Akufo-Addo assents anti-LGBT+ Bill into law – Prof Manuh

Akufo-Addo to be sued by advocates for LGBT+ if he assents anti-LGBT+ Bill into law

In a bold and defiant stance against the pending anti-LGBT+ Bill in Ghana, renowned human rights activist and academic, Emerita Professor Takyiwaa Manuh, has vocally expressed her intention to challenge the government legally should President Nana Addo Dankwa Akufo-Addo grant his assent to the controversial Promotion of Human Sexual Rights and Family Values Bill. This … Read more

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