The International Monetary Fund (IMF) has opted for silence amid Ghana’s heated debate over controversial legislation targeting LGBTQI+ rights.
The IMF, headquartered in Washington DC, has declined to comment on the bill passed by Parliament, which awaits the signature of President Akufo-Addo.
In response to inquiries from Joy Business, the IMF reiterated its commitment to non-discrimination, citing internal policies that prohibit bias based on personal characteristics, including gender and sexual orientation.
“Our internal policies prohibit discrimination based on personal characteristics, including but not limited to gender, gender expression, or sexual orientation. Like institutions, diverse and inclusive economies flourish.
“We are watching recent developments in Ghana closely.
“We cannot comment on a bill that has not yet been signed into law and whose economic and financial implications we have yet to assess,” the Fund quipped.
Meanwhile, Ghana’s Ministry of Finance has sounded alarm bells, cautioning that the nation could face significant financial repercussions if the bill is enacted. Expressing concerns in a circular to the Presidency, the Ministry warned of potential losses exceeding $3 billion in World Bank funding for critical programs and projects.
While the IMF’s Extended Credit Facility (ECF) program does not explicitly tie conditions to the passage of the bill, the Ministry stressed the importance of predictable financing from development partners, including the World Bank.
The Finance Ministry’s apprehensions extend beyond funding loss, raising fears of market turbulence that could unsettle the nation’s exchange rate stability.
Ashantibiz
