A Democracy Scholar at the Hoover Institute and Stanford University, Professor Larry Diamond, has cautioned Ghana against the potentially dire consequences of enacting into law the controversial Human Sexual Rights and Ghanaian Family Values Bill also known as the anti-LGBTQI+ Bill.

In an interview with Citi TV on Wednesday, March 27, Professor Diamond emphasised the severe economic implications of passing the bill.

He highlighted the likelihood of foreign investors imposing restrictions on Ghana as a result of its infringement on the rights of a minority group.

“I would remind people of what some friends of Ghana have been saying. This act will be a disaster for Ghana economically [if passed into law]. Because Western companies are not going to come and invest in a country that is pummeling minority rights.

“The extreme religious rights have failed to achieve this religious agenda in the United States. And so now they are coming to Africa to try and push the agenda. People who complain about neo-colonialism? Shouldn’t they be asking questions about this?," he queried.

The Ministry of Finance has echoed this sentiment, urging President Akufo-Addo to refrain from approving the bill, which was recently passed by Parliament.

According to the Ministry, the enactment of the bill could have significant financial ramifications for Ghana.

They warned of a potential loss of substantial World Bank funding, estimated at USD$3.8 billion over the next five to six years.