Dr Patrick Asuming, an economist and financial analyst at the University of Ghana, says the Finance Ministry’s statement on the implications of the Anti-Gay Bill if passed into law ‘will amount to fearmongering.’
The Ministry of Finance has pleaded with President Akufo-Addo not to assent to the recently passed anti-LGBTQ bill by Parliament.
In a press release on Monday, March 4, the Finance Ministry cautioned that approving the bill could result in significant financial consequences for Ghana.
According to the Finance Ministry’s statement, Ghana stands to lose a substantial amount of World Bank financing, estimating a potential loss of USD$3.8 billion over the next five to six years.
Speaking in an interview on The Big Issue on Citi TV with Selorm Adonoo on Saturday, Dr Asuming argued that the Ministry’s statement did not capture all the relevant information and available facts.
“I think that the statement that the Finance Ministry issued will amount to fearmongering. I don’t think the statement captures all relevant information and available facts,” he said.
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In a related story, Edem Agbana, the National Democratic Congress (NDC) Parliamentary Candidate for Ketu North, has described discussions regarding the financial implications of the Anti-Gay Bill as embarrassing.
He argues that such discussions compromise the integrity of Ghana’s independence.
The Ministry of Finance has expressed concerns about the financial repercussions of the Anti-Gay Bill, even urging President Akufo-Addo not to approve the bill.
In a press release issued on March 4, the Ministry warned that the bill’s approval could lead to significant financial consequences for Ghana.
The Ministry’s statement projected a potential loss of approximately USD$3.8 billion in World Bank financing over the next five to six years if the bill is passed.
In an interview with Selorm Adonoo on Citi TV’s The Big Issue, Mr Agbana argued that such discussions suggest that Ghana lacks autonomy and self-sufficiency.
“My concern is that we are trying to debate this whole issue and link it to the financial implications of the bill, that tells me that what we did three days ago lining up our school children, workers, old men and women to celebrate what we call independence is nothing but a mirage.
“Because if we are truly independent, we should be able to make decisions that we believe are in the best interests of this country. Our country must state our position on this issue clearly and when you are going to the table of negotiations let everybody know that these things must be attached, it cannot be conditionalities attached to giving us financial aid.”
