The Dean of the School of Business at the University of Cape Coast (UCC), John Gatsi, says Ghana’s relationship with most international organisations is based on contract.

In view of this, Professor Gatsi believes that the Finance Ministry can call the international bodies to order when it comes to the country's norms and laws.

This follows concerns raised by the Ministry that approval of the recently passed Anti-LGBTQ bill could lead to severe repercussions on the country's financial support from international organisations like the World Bank and IMF.

In a statement released on March 4, the Ministry of Finance had urged President Akufo-Addo to refrain from signing the passed Anti-LGBTQ+ Bill into law.

The statement highlighted concerns that the expected US$300 million financing from the First Ghana Resilient Recovery Development Policy Operation (Budget Support), currently awaiting Parliamentary approval, might not be disbursed if the bill is signed into law.

Additionally, ongoing negotiations on the Second Ghana Resilient Recovery Development Policy Operation (Budget Support), amounting to US$300 million, could be suspended.

But speaking on JoyNews' AM Show, Professor Gatsi argued that the Finance Ministry must rather focus on the terms of the loan agreements with these international bodies.

“Why are we dealing with the World Bank? We are dealing with the World Bank based on a contract. It is as simple as that. If their interest is to the effect that they do not like certain issues regarding LGBTQ, those things can be discussed.

"I keep saying that the protection of the interests of this group of people is very important, but that does not mean that the structure that is put in place to keep the value system of Ghanaians should not be respected.”

According to him, there are international conventions that prohibit the World Bank and International Monetary Fund (IMF) from using LGBTQ rights and advocacy to deny giving loans to country in need.  

Professor Gatsi stated that countries that meet the threshold requirements for receiving funding from the World Bank should be given the funding, regardless of their stance on LGBTQ.

"I think that there should be a forum to discuss these things in a humane manner, not forcefully or using them as weapons against nations. That is the point I am making”.

On February 28, 2024, Parliament approved a bill criminalizing LGBTQ activity and prohibiting their promotion, advocacy, and funding.

Under the legislation, individuals convicted of such acts could be sentenced to 6 months to 3 years in prison, while those promoting or sponsoring such activities could face 3 to 5 years behind bars.

The bill's passage has sparked criticism from various stakeholders, including Virginia Evelyn Palmer, the Ambassador of the United States to Ghana.