IMF Declines to Comment on Anti-LGBTQI+ Bill Pending Presidential Approval
The International Monetary Fund (IMF) has refrained from commenting on the anti-LGBTQI+ bill passed by Parliament, citing that it has not yet been signed into law by President Akufo-Addo.
The Fund also mentioned that it has not conducted an economic and financial assessment of the potential impact of the law on the country.
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In response to inquiries sent to the IMF Headquarters in Washington DC, USA on March 4, 2024, the Bretton Woods institution stated that their internal policies prohibit discrimination based on personal characteristics, including gender, gender expression, and sexual orientation. They emphasized that diverse and inclusive economies tend to thrive.
In response to inquiries sent to the IMF Headquarters in Washington DC, USA on March 4, 2024, the Bretton Woods institution stated that their internal policies prohibit discrimination based on personal characteristics, including gender, gender expression, and sexual orientation. They emphasized that diverse and inclusive economies tend to thrive.
Additionally, the Ministry of Finance issued a circular to the Presidency expressing concerns about potential financial challenges if the president proceeds to assent to the bill. The ministry cautioned that Ghana might lose over $3 billion in funding from the World Bank for various programs and projects.
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While clarifying that there is no direct conditionality in the IMF-ECF Programme related to the passage of the bill, the Finance Ministry highlighted that the principles of the current IMF program rely on predictable financing from Development Partners, including the World Bank. They also expressed worries about potential market reactions affecting the stability of the exchange rate.
Regarding its policies and values, the IMF reiterated its commitment to diversity and inclusion, stating that they are closely monitoring recent developments in Ghana.
While clarifying that there is no direct conditionality in the IMF-ECF Programme related to the passage of the bill, the Finance Ministry highlighted that the principles of the current IMF program rely on predictable financing from Development Partners, including the World Bank. They also expressed worries about potential market reactions affecting the stability of the exchange rate.
Regarding its policies and values, the IMF reiterated its commitment to diversity and inclusion, stating that they are closely monitoring recent developments in Ghana.
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