Mahama Charges Independent Fiscal Council to Protect Ghana’s Fiscal Discipline
Five-member council begins four-year mandate to strengthen fiscal oversight and debt sustainability.
- Mahama inaugurates five-member council.
- Council gets four-year mandate.
- Members tasked with independent fiscal oversight.
President John Dramani Mahama has inaugurated the five-member Independent Fiscal Council with a charge to provide independent, credible and objective oversight of Ghana’s fiscal policy.
The Council was inaugurated on Tuesday, September 8, 2026, at the Presidency, where President Mahama said its work would be critical to ongoing efforts to strengthen the economy, restore investor confidence, promote inclusive growth and create jobs.
Addressing the members, the President tasked the Council with closely scrutinising government’s fiscal decisions, assessing compliance with established fiscal rules and providing recommendations 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,” he said.
President Mahama stressed that the Council’s role was particularly important at a time when citizens and other stakeholders were demanding greater prudence, transparency and accountability in the management of public resources.
The Council will serve a four-year term and is chaired by Dr. Emmanuel Oteng Kumah, an international economic consultant and former Board Chairman of Standard Chartered Bank Ghana.
Its other members are Dr. Henry Akpenamawu Kofi Wampah, former Governor of the Bank of Ghana; Professor Patrick Opoku Asuming of the University of Ghana Business School, representing academia; Leslie Dwight Mensah, representing think tanks; and J. Kweku Bedu-Addo, a former public policy expert at the Ministry of Finance.
President Mahama assured the Council that his administration would respect its independence and provide the institutional support needed for it to effectively perform its functions.
He described fiscal responsibility as more than a legal obligation, stressing its importance 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 members to perform their duties with courage, professionalism and impartiality, 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, Dr. Wampah assured the President that the members would diligently discharge the responsibilities entrusted to them.
The Independent Fiscal Council was established under the Public Financial Management (Amendment) Act, 2025 (Act 1136), with a mandate to promote fiscal discipline, support long-term debt sustainability and strengthen the credibility of Ghana’s public financial management system.
