IMF declines comment on anti-gay bill
The International Monetary Fund (IMF) has refrained from commenting on the anti LGBTQI+ bill that was passed by Parliament. The bill has not been signed into law by President Akufo-Addo yet. The IMF stated that they have not conducted an economic and financial assessment of the law in the country.
The Finance Ministry advised President Akufo-Addo against signing the bill, expressing concerns about potential financial challenges. They warned that Ghana could lose over $3 billion in funding from the World Bank for various programs and projects. The ministry also highlighted the impact the bill could have on the economy, noting that while there is no direct conditionality in the IMF-ECF Programme related to the bill, the principles of the current IMF program rely on predictable financing from Development Partners.
The IMF reiterated their internal policies on non-discrimination and stated that diverse and inclusive economies flourish. They mentioned that they are keeping a close eye on the developments in Ghana and cannot comment on a bill that has not yet been signed into law or assessed for its economic and financial implications.
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