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HomeNewsGhana's economy will be catastrophic if Anti-Gay bill is passed - Prof....

Ghana’s economy will be catastrophic if Anti-Gay bill is passed – Prof. Larry Diamond

Prof. Larry Diamond, Democracy Scholar at Hoover Institute and Stanford University, has warned Ghana the consequences ahead if the passage of anti-gay becomes a law.

The Ministry of Finance has already urged President Akufo-Addo to withhold his approval of the anti-LGBTQ+ bill recently passed by Parliament.

The Ministry warned that the bill’s ratification could lead to significant financial repercussions for Ghana.

The Ministry’s statement indicated that Ghana could lose a considerable amount of World Bank funding, with an estimated potential loss of USD$3.8 billion over the next five to six years.

In an interview with Bernard Avle on Citi TV’s The Point of View monitored by Puretvonline.com, Professor Diamond, from the Hoover Institute and Stanford University, argued that the bill’s passage would be economically catastrophic for Ghana.

He highlighted the restrictions that foreign investors would impose on Ghana as a country infringing on the rights of a minority group.

He argued that Western countries are solely promoting the anti-gay agenda in Africa.

“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, halting the transmission of the anti-LGBTQ+ Bill for assent due to legal issues. The Speaker of Parliament, Alban Bagbin, criticized President Nana Addo Dankwa Akufo-Addo for his decision.