The Minister of State designate at the Finance Ministry, Abena Osei-Asare, clarified the intention behind a letter from the Finance Ministry regarding the potential financial implications of the anti-gay bill.
She stated that the letter was an internal memo aimed at addressing any revenue gap issues that might arise if the bill were to be passed.
Osei-Asare explained that the memo was not intended for external dissemination but rather for internal discussions on how to mitigate potential financial challenges.
The Ministry of Finance had previously highlighted the potential negative effects of assenting to the anti-LGBTQ+ bill, warning of the loss of significant financial support from international institutions such as the World Bank. The Ministry detailed the possible loss of budget support, financial stability fund contributions, and project funding, which could result in a financing gap in the 2024 budget.
Renowned economist Kwame Pianim criticized the timing of the Finance Ministry’s warning, stating that it should have been communicated to Parliament earlier in the bill’s legislative process. He argued that such financial implications should have been addressed during discussions on the bill in Parliament, rather than after its passage.
Overall, the Finance Ministry’s letter and subsequent clarification by Abena Osei-Asare underscore the importance of considering the financial ramifications of legislative decisions and the need for effective communication between government ministries and Parliament during policy discussions.
