Professor Larry Diamond, a Democracy Scholar at Stanford University and the Hoover Institute in the United States, has warned Ghana’s economy would suffer greatly if the contentious anti-LGBTQ+ bill is passed into law.
He claimed that enacting the measure will have disastrous economic effects on Ghana and the country’s investment climate.
The US-based professor discussed this in an interview with Citi TV’s Point of View programme in Accra. He said that foreign investors, for example, would impose heavy limitations on Ghana if they believed the nation was violating the rights of a minority population.
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Additionally, he contended that signing the bill into law would deter prospective investors from making investments in the nation.
“I would like to draw attention to what several Ghanaian friends have been stating. If this act is made law, Ghana’s economy will suffer greatly. The US-based professor stated, “Because Western businesses will not come and invest in a country that is abusing minority rights.”
“This religious objective in the United States has not been realised by the extreme religious rights. They are now travelling to Africa in an effort to advance the agenda. Those who bemoan the return of colonialism? Is it not appropriate for them to inquire about this? Professor Diamond asked.
In the meantime, the possible economic effects of signing the anti-gay measure into law have been detailed by the Ministry of Finance. The Ministry stated in a recent statement that Ghana could lose financing totaling roughly US$3.8 billion over the following five to six years.
Additionally, the Ministry asked the President to postpone signing the anti-LGBTQ+ bill into law, citing a slew of negative economic effects that could undo the progress made in reestablishing financial stability.
