Renowned economist, Mr. Kwame Pianim, has called on the United States and other nations opposed to Ghana's anti-gay legislation to direct their sanctions specifically towards the Speaker of Parliament, Alban Bagbin, and the Members of Parliament who supported the bill.Mr. Pianim emphasized that the bill was not a nationwide referendum and urged against imposing sanctions on the entire country.

Speaking on TV3's Business Focus with Paa Kwesi Asare, Mr. Pianim suggested, “my appeal to the US and the other countries who feel very strongly about lgbtq rights as human rights is that they should not use the instrument of sanctioning the whole country, they should put sanctions on the Speaker of Parliament, those who moved the bill and the 275 of the MPs, put sanction on them and leave the Ghana economy alone.

“This is not a referendum that has been passed by the people of Ghana, we are already suffering, so don’t add any sanctions to it, sanction the people who are doing this and if these people make our problems worse, all of us Ghanaians should consider seriously,  this 8th parliament of the fourth republic, the administration none of them should receive their gratia.”He further warned against detrimental consequences, proposing that if the actions of the lawmakers worsen the country's problems, none of them should receive their gratia.“In total, Ghana is likely to lose US$3.8 billion in World Bank Financing over the next five to six years. For 2024, Ghana will lose US$600 million budget support and US$250 million for the Financial Stability Fund. This will negatively impact Ghana’s foreign exchange reserves and exchange rate stability as these inflows are expected to shore up the country’s reserve position,” part of the brief cited by 3news.com reads.

Expressing discontent with the Finance Ministry's late warning on the bill's financial implications, Mr. Pianim stated that the caution should have been issued during the bill's parliamentary discussions.He criticised the administration's handling of the situation, stating, "It shows how incompetent our administration is; it is really shambolic."

The Ministry of Finance had outlined potential financial losses, including a US$3.8 billion reduction in World Bank financing over the next five to six years, following the passing of the anti-LGBTQ+ Bill.Mr. Pianim questioned the ministry's timing, emphasising the importance of addressing financial implications before the bill's passage.

Parliament passed the Promotion of Human Sexual Rights and Ghanaian Family Values Bill on February 28, prompting international concern and the Ministry of Finance's caution on the potential economic fallout.