Passage of anti-LGBTQ+ Bill: Our internal policies prohibit discrimination based on personal characteristics – IMF cautions Ghana

Following Ghana's Parliament's passage of the anti-LGBTQ+ Bill, the International Monetary Fund (IMF) has subtly expressed its concerns over the implications.

On February 28, 2024, Parliament approved the bill criminalizing LGBTQ+ activities, advocacy, promotion, and funding, stipulating penalties ranging from 6 months to 5 years in jail for offenders.

Criticism of the bill has been widespread, with the United States Ambassador to Ghana, Virginia Evelyn Palmer, among those voicing disapproval. The IMF, in a statement, emphasized its internal policies against discrimination and stated its close monitoring of the situation in Ghana.

Ghana, facing an economic downturn, has been pursuing a bailout from the IMF. While the first and second tranches have been received, the passage of the bill has cast uncertainty on Ghana's prospects of securing the third tranche.

The IMF's commitment to diversity and inclusion was reiterated in its statement, which also highlighted the potential economic ramifications of discriminatory legislation.

In a statement released by the IMF and shared with Bloomberg, it was 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.”

President Nana Addo Dankwa Akufo-Addo is yet to assent to the Bill.

Previously, on January 23, the Bank of Ghana confirmed the receipt of US$600 million as the second tranche of Ghana's IMF bailout package, intended for budget support and currency stabilization. Ghana has received a total of US$1.2 billion out of the approved $3 billion under the three-year extended credit facility.

Despite challenges, Ghana has demonstrated positive performance under the IMF program, with economic reforms yielding promising results. The next IMF program review, crucial for securing the third tranche of approximately US$360 million, is scheduled in the coming months.