We can’t comment on anti-LGBTQI+ bill now –IMF

The International Monetary Fund (IMF) has declined to comment on the anti LGBTQI+ bill passed by Parliament.

The bill has not yet been signed into law by President Akufo-Addo.

According to the Fund, it is yet to also undertake an economic and financial assessment of the law on the country.

The Bretton Wood institution made this known in response to a set of questions sent by JOYBUSINESS to the IMF Headquarters in Washington DC USA on March 4, 2024.

“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”, the IMF said in an email.

Ministry of Finance advice to Akufo Addo

The Finance Ministry in a circular to the Presidency expressed concerns that the country could face serious financial challenges if the president goes ahead to assent to the bill.

The ministry warned that Ghana could lose more than 3 billion dollars in funding from the World Bank for various programmes and projects.

Assessing the impact of the bill on the economy the ministry pointed out that while there is no direct conditionality in the IMF-ECF Programme relating to the passage of the Bill, “ the principles of the current IMF programme are built on predictable financing from Development Partners (Financing Assurances) including the World Bank”.

The Finance Ministry was worried that the development could trigger a market reaction which will affect the stability of the exchange rate.

IMF on its policies and Values

“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” it added.

Source:Joy News