Freddie Blay, the former National Chairman of the New Patriotic Party (NPP), has raised concerns over the possibility of Germany and other countries demanding debt repayments if President Akufo-Addo signs the controversial anti-LGBT+ bill into law.

Mr Blay revealed that this potential action is viewed as a form of protest against the bill, which critics argue discriminates and infringes upon human rights principles.

Speaking in an interview with Oyerepa TV on March 8, 2024, he underscored Ghana's reliance on international financial aid and highlighted Germany's explicit warning that implementing such legislation could lead to requests for loan repayments.

“The reality is that we depend on international bodies for financial assistance, we go and borrow money from them and we pay …Germany, I am aware of…says if we impose such bill, they will demand payment on loans and no compromise on that and many other countries have said similar, IMF itself has made it clear on some of the conditions,” Freddie Blay stated.

Already, the Ministry of Finance has delivered a strong message to President Akufo-Addo, advising him against signing the anti-LGBT+ bill into law.

In a detailed 5-page report issued by the Ministry, some significant financial consequences are highlighted, with Ghana facing the potential loss of $3.8 billion in financing from the World Bank.

The document outlines projected losses for the year 2024, estimating a substantial $600 million reduction in budget support, along with an additional $250 million earmarked for the Financial Stability Fund.