Renowned economist, Kwame Pianim, has lambasted the Ministry of Finance for releasing a document detailing the implications of the LGBTQ+ bill if passed into law.

In his view, the release reveals how incompetent the ministry is as the cabinet minister was to bring to bear the financial implications of the bill when it was laid before parliament.

Speaking on TV3's Business Focus, the economist said the move taken by the finance ministry has rather brought shame to the country.

He said, “I think that if this document is really true, it shows how incompetent our administration is. It is really shambolic. Where was the Ministry of Finance when this bill was being discussed?

"Normally, when a bill is being discussed in Parliament, bills come from the government, the cabinet minister will take the document to parliament, convince his colleagues that he wants to pass this Act, and then it goes to Parliament."

“The Ministry of Finance should have sent this document to the cabinet and to the president and to the relevant committees of Parliament that were discussing it to say these are the financial implications of this bill," Kwame Pianim stated.

He further said, “That is how it is done and then if the president is up to the task and he is doing his job then the president will hold the breakfast meeting, invite Parliamentary leaders and say this is where the national interest is, this is the geopolitical implications of this bill and therefore think twice before you move ahead. That is what is done, you don’t wait for the bill to be passed and then you disgrace the whole nation.”

According to the Ministry of Finance, the country will lose about US$3.8 billion in World Bank financing over the next five to six years if the LGBTQ+ bill is passed into law.

For the 2024 fiscal year, Ghana is likely to lose out on the US$600 million budgetary support and US$250 million earmarked for the Financial Stability Fund.

This comes after Ghana’s parliament on Wednesday, February 28, 2024, passed the anti-LGBT+ bill following a unanimous decision by lawmakers in the House.

The bill, currently awaiting presidential assent, proscribes lesbian, gay, bisexual, and transgender (LGBT) activities and criminalises their promotion, advocacy, and funding.

Persons caught in these acts would be subjected to a six-month to three-year jail term with promoters and sponsors facing a three to five-year jail term.

SA/NOQ

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