ACCRA, Ghana, September 8, 2026 – President John Dramani Mahama has inaugurated the five-member Independent Fiscal Council, charging the body to provide independent, credible and objective oversight of Ghana’s fiscal policy and public finances.
At a brief ceremony at the Presidency on Tuesday, September 8, President Mahama said the Council’s mandate was critical to the success of ongoing economic reforms aimed at strengthening the economy, restoring investor confidence, promoting inclusive growth and job creation, and improving the delivery of public services.
He tasked the Council to scrutinise government’s fiscal decisions, assess compliance with established fiscal rules and provide objective advice in the national interest.
“Your responsibility is to scrutinise the Government’s fiscal decisions, assess compliance with established rules, and provide sound recommendations in the national interest,” President Mahama said.
He noted that the establishment of the Council came at a time when citizens, investors and other stakeholders were demanding greater prudence, transparency and accountability in the management of public resources.
The Independent Fiscal Council will serve a four-year mandate and is chaired by Dr Emmanuel Oteng Kumah, an international economic consultant and former Board Chairman of Standard Chartered Bank Ghana.
The other members are Dr Henry Akpenamawu Kofi Wampah, former Governor of the Bank of Ghana; Professor Patrick Opoku Asuming, representing academia from the University of Ghana Business School; Mr Leslie Dwight Mensah, representing think tanks; and Mr J. Kweku Bedu-Addo, a former public policy expert at the Ministry of Finance.
President Mahama pledged his administration’s commitment to respecting the Council’s independence and providing the institutional support required for it to discharge its mandate effectively.
He stressed that fiscal discipline should go beyond mere compliance with the law, describing it as an obligation to both current and future generations.
“Fiscal responsibility must not be regarded merely as a statutory requirement. It is a moral obligation to present and future generations,” he said.
The President further urged the Council to carry out its responsibilities with courage, professionalism and impartiality, stressing that its work must be guided by evidence and the national interest.
“Your work must be guided by evidence and the national interest, without fear, favour, or political consideration,” President Mahama stated.
Speaking on behalf of the Council, former Bank of Ghana Governor Dr Henry Wampah assured the President that the members would not shirk their responsibilities and would faithfully discharge the mandate entrusted to them.
The ceremony was attended by the Chief of Staff at the Presidency, Dr Julius Debrah; Minister for Finance, Dr Cassiel Ato Baah Forson; Presidential Advisor on the Economy, Mr Seth Terkper; and Presidential Advisor and Special Aide to the President, Mrs Joyce Bawa Mogtari.
The Independent Fiscal Council was established under the Public Financial Management (Amendment) Act, 2025 (Act 1136), as part of measures to promote fiscal discipline, ensure long-term debt sustainability and restore credibility to Ghana’s public financial management system.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/ Presidential Affairs Correspondent | Ghana 🇬🇭