Anti-LGBT+ Bill: Ghana under pressure from Germany, others demanding debt repayment after passage
Freddie Blay, a former national chairman of the governing New Patriotic Party (NPP), has disclosed that Germany and other nations are contemplating demanding debt repayments if President Nana Addo Dankwa Akufo-Addo signs the anti-LGBT+ bill into law.
Blay disclosed that the move is a protest against the LGBT+ bill, which they deem discriminatory and against human rights principles.
“The reality is that we depend on international bodies for financial assistance, we go and borrow money from them and we pay …Germany I am aware of…says if we impose such bill, we will demand our payment on loans and no compromise on that and many other countries have said similar, IMF itself has made it clear on some of the conditions,” he said in an interview with Oyerepa TV on March 8, 2024.
The Ministry of Finance, this week, issued a stern warning to President Akufo-Addo, cautioning him against giving assent to the anti-LGBT+ bill.
According to a 5-page document released by the ministry, Ghana stands to lose a substantial amount of financial support, particularly jeopardizing $3.8 billion in World Bank financing.
The document elaborates on the potential financial repercussions, stating that in 2024 alone, Ghana could lose US$600 million in budget support and an additional US$250 million earmarked for the Financial Stability Fund.
