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Business News of Friday, 8 March 2024

Source: happyghana.com

'The laziest approach' - Farouk Wahab on MoF plea to Akufo-Addo not to assent to anti-gay bill

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International Diplomatic Consultant Farouk Al Wahab has criticized the Finance Minister’s address to President Nana Addo Dankwa Akufo-Addo regarding the anti-LGBTQ+ bill, calling it weak.

In an interview on the Happy Morning Show, he argued that the political and economic discussions presented around the bill hold no grounds.

“We know we live with them and they’ve had their independent lives. They’ve lived and functioned alongside and we don’t have issues with that. The political stimulation of this subject engaging the social dynamic and the economic burdens and political hardships of Ghanaians currently to me is the weakest of all the discussions on the subject,” Al Wahab stated.

He further expressed dismay at the Finance Ministry’s “threat” to the presidency regarding the potential economic repercussions of the bill, describing it as “the laziest approach of any Finance Ministry in the world.”

“Our biggest problem is that the Ministry of Finance would issue a threat to the presidency that should the bill be signed, it will bring hardships to Ghanaians. I’m saying it is weak and the laziest approach of any Finance Ministry in the world,” he noted.

The Finance Minister’s address to President Akufo-Addo highlighted potential financial losses, including a projected loss of $3.8 billion in World Bank financing over the next five to six years if the bill becomes law.

This follows the unanimous passage of the legislation by lawmakers last week, signaling a crackdown on the rights of LGBTQ+ individuals in Ghana.

The bill, which will now be presented to President Nana Akufo-Addo for consideration, has drawn criticism from the United States, which expressed deep concern and called for a review of its constitutionality.

The Finance Ministry’s warnings about the possible consequences of the anti-LGBTQ+ bill have sparked debate and scrutiny amid Ghana’s economic challenges, including a debt crisis and reliance on IMF and World Bank support.

Al Wahab has called attention to the perceived shortcomings in the government’s handling of the issue.