LGBTQ+ bill: If we say we want this then we must be ready to face the consequences – Joe Jackson

Economist and Director of Operations at Dalex Finance, Joe Jackson has indicated that government must take the caution from the Ministry of Finance on the impact of the LGBT+ bill seriously.

Speaking to Citi News on Monday evening, he said if Ghanaians want the LGBTQ+ bill to be made law, then the people should be ready to face its dire consequences.

“I agree with a lot of the things said by the Finance Ministry. I find it unfortunate that at this time of our economic life, we have created an issue from this LGBT issue. Ghana is broke, we have been broke for a lot of time. Not only are we broke, even the IMF bailout was made because of geopolitical issues. When you go cap in hand to beg people to give you a bailout you may have to swallow some of your pride and swallow some of the issues you don’t like.

“If we insist on this bill we must be able to understand the hardships that may come. We cannot walk away from this. If the fear of the economic repercussions is as bad as has been articulated. We have to rethink our stance. If we say this then we must be able to face the consequence,” Joe Jackson argued.

In a paper sent to President Akufo-Addo, the Ministry of Finance has warned against assenting the LGBTQ+ bill into law.

The Ministry in its paper said Ghana is likely to lose US$3.8 billion in World Bank Financing over the next five to six years if the bill becomes law.

The Ministry also said that in 2024, Ghana will lose US$600 million in budget support and US$250 million for the Financial Stability Fund.

This, the Ministry explained will negatively impact Ghana’s foreign exchange reserves and exchange rate stability as these inflows are expected to shore up the country’s reserve position.

For Joe Jackson, Government must look at this document from the Ministry of Finance carefully before deciding on anything.