The President of Ghana has been advised by the Finance Ministry not to sign a contentious anti-LGBT measure that was approved by the legislature last week.
It cautions that over the next five to six years, the nation may miss out on a total of $3.8 billion (£3 billion) in World Bank funds.
According to the measure, identifying as LGBT+ carries a three-year prison sentence; advocating LGBT+ activities carries a five-year sentence.
The International Monetary Fund (IMF) provided a bailout to Ghana last year when it was going through a serious economic crisis.
There are worries that the economic recovery might be derailed by a lack of money from the World Bank and other donors.
The warning from the finance ministry was leaked to many media outlets, including the BBC, in an extremely rare way.
It suggests that President Nana Akufo-Addo wait to sign the legislation until the Supreme Court makes a determination about its constitutionality. Human rights organizations filed lawsuits even before the law was approved by parliament, although it is doubtful that the Supreme Court would consider them for some time.
Following receipt of the bill, the President of Ghana has seven days to sign it into law or provide an explanation; if he chooses not to, he has fourteen days. Despite passing the parliament last Thursday, the Proper Human Sexual Rights and Ghanaian Family Values law has not yet been sent to the president for his approval.
According to reports, Mr. Akufo-Addo is meeting with important ministries and funders to evaluate the effects of the Ghanaian Family Values and Proper Human Sexual Rights law.
The measure, which has the support of Ghana’s two major political parties, has already drawn criticism from the US, the UK, and human rights organizations.
The World Bank said last year that it will stop making fresh loans to Uganda in reaction to the enactment of anti-LGBT legislation that is even more stringent than Ghana’s laws.
The IMF said in a statement that “diversity and inclusion are values that the IMF embraces” and that it was keeping an eye on events in Ghana, according to Bloomberg.
Ghana may lose up to $850 million (£670 million) in aid this year alone, according to authorities. This would have a detrimental effect on the already fragile economy, lower the nation’s foreign reserves, and jeopardize the stability of the currency rate.
Credit: Allschoolabs, Nairaland
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