Ghana’s recent passage of an Anti-LGBTQ bill has put it at risk of losing $3.8 billion in World Bank funding. The nation’s finance ministry is urging President Nana Akufo-Addo to delay signing the bill, pending a constitutional review by the Supreme Court.
Human rights groups have challenged the bill’s legality, and international condemnation has been widespread. President Akufo-Addo is currently assessing the bill’s potential impact with various stakeholders.
The IMF, which supports diversity and inclusion, is monitoring the situation but has not yet evaluated the bill’s economic consequences. Ghana, which relies on the IMF for financial support, could lose significant aid, exacerbating its economic challenges.
This situation mirrors Uganda’s experience, where similar legislation led to international sanctions and the cessation of World Bank support, as well as exclusion from the AGOA trade initiative.
