"Ghana’s IMF assistance at risk amidst passage of anti-LGBTQ+ bill"

" Ghana's IMF assistance at risk amidst passage of anti-LGBTQ+ bill \r\n\r\n \r\n\r\nThe\u00a0 International Monetary Fund \u00a0(IMF) said it is monitoring events in Ghana following the approval of a bill by lawmakers, which proposes a potential three-year jail sentence for individuals identifying as LGBTQ.\r\n\r\n \r\n \r\n \r\n \r\n\r\nThe legislation was passed by lawmakers last week, garnering support from both the ruling party and the opposition. The law imposes a prison sentence of up to three years for anyone convicted of identifying as LGBTQ+ and also imposes a maximum five-year jail term for forming or funding LGBTQ+ groups.\r\n\r\n \r\n \r\n\r\nBefore it takes effect, President Nana Akufo-Addo, set to step down after elections on December 7, must sign the bill into law,\u00a0 Bloomberg reported.\r\n\r\n \r\n \r\n\r\nAccording to the IMF, diversity and inclusion are values it embraces. \u201cOur internal policies prohibit discrimination based on personal characteristics, including but not limited to gender, gender expression, or sexual orientation. Like institutions, diverse and inclusive economies flourish,\" the Washington-based lender said.\r\n\r\n \r\n \r\n\r\n\u201cWe are watching recent developments in Ghana closely,\u201d the fund said. \u201cWe cannot comment on a bill that has not yet been signed into law and whose economic and financial implications we have yet to assess.\u201d\r\n\r\n \r\n \r\n\r\nGhana's financial stability is heavily reliant on IMF support. The country sought a\u00a0 $3 billion bailout \u00a0following a\u00a0 default on its debt , which it\u2019s now in the process of restructuring.\r\n\r\n \r\n \r\n\r\nOn January 19, the International Monetary Fund (IMF) approved the release of a second tranche of\u00a0 $600 million \u00a0to Ghana under its three-year emergency program.\r\n\r\n \r\n \r\n\r\nThe LGBTQ bill has faced strong criticism from both the United States and Amnesty International.\r\n\r\n \r\n \r\n\r\nGhana now joins the ranks of African nations enacting strict anti-LGBTQ legislation.\r\n\r\n \r\n \r\n\r\nUganda implemented a\u00a0 similar measure last year , but even with more severe penalties, including life imprisonment and the death penalty. The country has since faced serious economic sanctions from different quarters.\r\n\r\n \r\n \r\n\r\nThe World Bank suspended\u00a0 Uganda's funding \u00a0over human rights concerns tied to the anti-homosexuality law.\r\n\r\n \r\n \r\n\r\nFollowing suit, the United States expelled\u00a0 Uganda from the Africa Growth and Opportunity Act \u00a0(AGOA), a specialized trade program established in 2000 to foster economic relations between the U.S. and Africa.\r\n\r\n \r\n \r\n \r\n \r\n \r\n "

"Ghana’s IMF assistance at risk amidst passage of anti-LGBTQ+ bill"

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