Ghana finance ministry warns country stands to lose $3.8 billion over controversial anti-LGBTQ bill

Ghana's finance ministry has warned the country stands to lose a substantial amount of World Bank financing, estimated at USD$3.8 billion over the next five to six years should the president sign a controversial anti-LGBTQ bill.

According to the Finance Ministry’s statement released Monday, the impact could adversely affect Ghana’s foreign exchange reserves and exchange rate stability the statement added.

The controversial legislation which prohibits lesbian, gay, bisexual, and transgender (LGBT) activities and criminalises their promotion, advocacy, and funding in the country, was unanimously passed by Parliament last week after three long years since it was introduced on the floor of parliament.

If assented to by the President, the bill will among other things, impose sanctions on willful promotion and engaging in LGBTQ activities in the country with a minimum sentence of six months and maximum of three years in prison for culprits. 

Activists, and international rights groups have condemned the bill.