President Nana Akufo Addo is being persuaded by Ghana's Finance Minister, Mohammed Anim Adam, not to give his approval to the contentious Ghanaian Family Values and Promotion of Proper Sexual Rights Bill. Mohammed Anim Adam laid forth the catastrophic effects on the national budget of signing the anti-gay bill in a press statement. He elaborated by saying that if the bill is signed into law, Ghana will lose enormous sums of money in aid.
He claims that the United States and other donor nations, including the Bretton Woods organizations, are going to cut off substantial financial aid to the nation. A total of $3.8 billion in World Bank financing is projected to be lost by Ghana during the next five to six years. The Financial Stability Fund will get $250 million in 2024, and budget support of $600 million will be withheld from Ghana. The stability of Ghana's currency rate and the country's foreign exchange reserves will be severely affected by this, according to the statement. These inflows were supposed to strengthen Ghana's reserve position.
After three years of discussion, Parliament finally enacted the Promotion of Proper Sexual Rights and Ghanaian Family Values Bill, also known as the Anti-Gay Bill, on Wednesday, February 28. Traditional leaders from both the Christian and Muslim communities of Ghana spearheaded the measure, which is now awaiting President Nana Akufo-Addo's signature. Despite his silence on the matter, it is widely believed that he will sign the bill.
Many countries' governments, including the United States and the Brentwood Institutions, have spoken out against the measure. They have cautioned Ghana against passing the measure as it is and have asked Parliament to reconsider it. U.S. funding to Ghana could be slashed if President Nana Akufo Addo approves the anti-gay bill. Whether President Nana Akufo Addo gives in to foreign pressure and signs the anti-gay bill is an open question.
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