Professor Larry Diamond, a democracy scholar at the Hoover Institute and Stanford University, cautioned against the potential ramifications for Ghana if the controversial anti-LGBTQ bill is enacted into law.
The Ministry of Finance has advised President Akufo-Addo to refrain from approving the recently passed anti-LGBTQ+ bill by Parliament. It highlighted potential severe financial consequences for Ghana.
The Ministry’s statement suggested that Ghana might face a substantial reduction in World Bank funding, estimating a potential loss of USD$3.8 billion over the next five to six years.
During an interview with Bernard Avle on Citi TV’s The Point of View, Professor Diamond, representing the Hoover Institute and Stanford University, cautioned that passing the anti-LGBTQ+ bill would have severe economic consequences for Ghana.
He emphasized that foreign investors would likely impose restrictions on Ghana due to its infringement on the rights of a minority group.
“I would remind people of what some friends of Ghana have been saying. This act will be a disaster for Ghana economically [if passed into law]. Because Western companies are not going to come and invest in a country that is pummeling minority rights.
“The extreme religious rights have failed to achieve this religious agenda in the United States. And so now they are coming to Africa to try and push the agenda. People who complain about neo-colonialism? Shouldn’t they be asking questions about this? he asked.
The Presidency, on March 18, issued a letter to Parliament, pausing the progression of LGBTQ Bill for approval, citing legal concerns. Speaker of Parliament, Alban Bagbin, rebuked President Nana Addo Dankwa Akufo-Addo for this action.
Credit: Citinewsroom
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