Prominent economist Kwame Pianim has criticized the Treasury for releasing a document detailing the implications of LGBTQ+ legislation if passed.
In his view, the announcement reveals the incompetence of the department, which ministers tried to hold accountable for the fiscal impact of the bill when it was introduced in parliament. That’s what it means.
The economist told TV3’s Business Focus that the Treasury’s actions had instead brought shame on the country.
He said: “If this document is indeed true, I think it shows how incompetent our administration is. It’s truly desolate. Where was the Treasury when this bill was being debated? …Normally, when a bill is being debated in Parliament, it comes from the government, and ministers take the document to Parliament and persuade their colleagues: Pass this law and then bring it to Parliament. To do.”
Kwame Pianim said: “The Treasury should have sent this document to the Cabinet, the President and the relevant committees of Parliament that were discussing it and asserted that these are the fiscal implications of this bill.” Ta.
He added, “If that’s the way it is, if the president is doing his job and doing his job, he’s going to have a breakfast meeting and invite the leaders of Congress and say, “Here’s the national interest, this is the national interest.” ,” he said. Please consider the geopolitical implications of this bill and think twice before proceeding. Without waiting for the bill to be passed, it will bring shame on the entire nation. ”
According to the Ministry of Finance, if the LGBTQ+ bill becomes law, the country stands to lose about US$3.8 billion in World Bank loans over the next five to six years.
In fiscal year 2024, Ghana is likely to lose US$600 million in budget support and US$250 million allocated to the Financial Stability Fund.
This comes after Ghana’s parliament passed an anti-LGBT+ bill on Wednesday, February 28, 2024, following a unanimous decision by members of the House of Representatives.
The bill, which currently awaits presidential approval, would ban lesbian, gay, bisexual, and transgender (LGBT) activities and criminalize their promotion, advocacy, and funding.
Those caught in these acts face prison sentences of 6 months to 3 years, and promoters and sponsors face prison terms of 3 to 5 years.
SA/NOQ
Check out the latest edition of BizHeadlines below.
Ghana Web, Ghana’s leading digital news platform, collaborates with Korlebu Teaching Hospital to ensure Parliament passes comprehensive legislation to guide organ harvest, donation and transplantation in the country We are embarking on an aggressive campaign.