Uncertainty looms over Ghana's IMF bailout as anti-LGBTQ+ bill gets passed

The International Monetary Fund (IMF) has subtly voiced its apprehensions following the approval of Ghana’s anti-LGBTQ+ Bill by Parliament on February 28, 2024.

This bill criminalizes LGBTQ+ activities, including promotion, advocacy, and funding, with potential jail terms ranging from 6 months to 5 years.

The passage of the bill has drawn criticism from various quarters, including the United States

Read full articleAmbassador to Ghana, Virginia Evelyn Palmer. However, the IMF, in a statement, underscored its internal policies against discrimination and indicated close monitoring of the situation in Ghana.

Ghana, grappling with an economic downturn, has been seeking IMF bailout support. While the first and second tranches have been received, the fate of the third tranche has become uncertain with the passage of the bill.

President Nana Addo Dankwa Akufo-Addo is yet to assent to the bill, adding to the ongoing discussions. Despite the economic challenges, Ghana has shown promising progress under the IMF programme, with positive reforms yielding stabilization efforts.

The IMF's next programme review is expected in a few months, potentially unlocking further financial assistance, but the outcome remains contingent on various factors, including the trajectory of the anti-LGBTQ+ legislation.