Professor Larry Diamond, a renowned democracy scholar affiliated with the Hoover Institute and Stanford University, has cautioned Ghana about the potential dire consequences of passing the controversial anti-gay bill into law.
The Ministry of Finance has joined the chorus of voices urging President Akufo-Addo to refrain from giving his approval to the bill recently endorsed by Parliament.
According to the Ministry, Ghana could face significant financial fallout if the bill is enacted.
The Ministry’s statement highlighted the risk of losing substantial World Bank funding, projecting a potential loss of USD$3.8 billion over the next five to six years.
Speaking on Citi TV’s The Point of View with Bernard Avle, Professor Diamond emphasized the economic catastrophe that could result from passing the bill.
He underscored the likelihood of foreign investors imposing restrictions on Ghana due to its infringement on the rights of a minority group.
Professor Diamond also argued that Western nations are primarily driving the anti-gay agenda in Africa, exacerbating the situation.
“I would remind people of what some friends of Ghana have been saying. This act will be a disaster for Ghana economically [if passed into law]. Because Western companies are not going to come and invest in a country that is pummeling minority rights.
“The extreme religious rights have failed to achieve this religious agenda in the United States. And so now they are coming to Africa to try and push the agenda. People who complain about neo-colonialism? Shouldn’t they be asking questions about this? he asked.
On March 18, the Presidency sent a letter to Parliament, pausing the progress of the anti-LGBTQ+ Bill for approval due to legal concerns. Speaker of Parliament Alban Bagbin rebuked President Nana Addo Dankwa Akufo-Addo for this move.