Passage of anti-LGBTQ+ Bill: Diversity and inclusion are values we embrace-IMF

The International Monetary Fund (IMF) has expressed concern following the passage of the anti-LGBTQ+ Bill by Ghana’s Parliament.

Parliament passed the bill that criminalizes LGBTQ+ activities, as well as their promotion, advocacy, and funding on February 28, 2024.

The bill stipulates that those found guilty could face a jail term ranging from 6 months to 3 years, while those promoting and sponsoring the act could face a jail term between 3 to 5 years.

The Bill’s passage has attracted criticism from various stakeholders, including the United States Ambassador to Ghana, the Center for Democratic Development(CDD-Ghana), Commission on Human Rights and Administrative Justice (CHRAJ) among others.

The IMF, in a statement, highlighted that its internal policies forbid discrimination and that it is closely monitoring the situation in Ghana.

Ghana is seeking a US$3billion  bailout from the IMF following an economic downturn. The first and second tranches have hit the Bank of Ghana’s account.

However, with the passage of the Bill, Ghana’s prospects of securing the third tranche hangs in the balance.

In a statement released by the IMF and shared with Bloomberg, it stated, “Diversity and inclusion are values that the IMF embraces. 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 President Nana Addo Dankwa Akufo-Addo is yet to assent to the Bill.

President Akufo Addo faces a tricky dilemma in this situation. It is not very clear what the external implications would be if he signs the bill into law, but with the western powers and their affiliates barring their teeth, there is a possibility such a law could hamper all deliveries.

On the other hand, the Parliament of Ghana as the people’s representatives has spoken on behalf of the generality of the people on the vexed topic of LGBTQ+ by passing the bill. Failure to assent the bill could affect the political fortunes of his party in the December 2024 elections which promises to be a difficult one.

On January 23, the Bank of Ghana (BOG) confirmed the receipt of US$600 million as the second tranche of Ghana’s bailout package with the IMF.

The funds, intended for budget support and stabilization of the local currency, were officially credited to the Central Bank’s account.

So far, Ghana has received a total of US$ 1.2 billion out of the $3 billion approved under the three-year extended credit facility signed in May of the previous year.

According to the IMF, Ghana has shown good performance under the programme, with reforms yielding positive results and signs of economic stabilization becoming evident.