Ghana could lose $3.8 billion of World Bank funding if an anti-LGBTQ bill passed last week is signed into law, according to a Finance Ministry document seen by Reuters.
Hub 247 News gathered that the financial authorities in Ghana are suggesting that President Nana Akufo-Addo postpone the enactment of the bill until a Supreme Court decision verifies its compliance with the constitution.
The bill’s passage through parliament comes as the West African country tries to emerge from a deep economic crisis and debt default with the help of a $3 billion IMF loan programme secured last year and financing from the World Bank.
In the internal document seen by Reuters, the finance ministry said Ghana was likely to lose US$3.8 billion in World Bank financing over the next five to six years, negatively impacting foreign exchange reserves and exchange rate stability.
