President John Dramani Mahama has inaugurated a five-member Independent Fiscal Council, tasking it with providing credible, objective and non-partisan oversight of Ghana’s fiscal policy.
At a ceremony at the Presidency on Tuesday, September 8, 2026, President Mahama said the Council’s work would be critical to sustaining the government’s economic reforms, restoring investor confidence, promoting inclusive growth and improving public service delivery.
He tasked the Council to scrutinise government’s fiscal decisions, assess compliance with established fiscal rules and provide sound 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,” President Mahama said.
He noted that the Council’s role was particularly important at a time when public demand for transparency, accountability and prudent management of public resources was increasing.
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 members include former Bank of Ghana Governor Dr Henry Kofi Wampah; Professor Patrick Opoku Asuming of the University of Ghana Business School; 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 of his commitment to protecting its independence and providing the necessary institutional support for it to effectively discharge its mandate.
He stressed that fiscal responsibility should be viewed beyond a statutory obligation, describing it as a moral responsibility to both present and future generations.
“Your work must be guided by evidence and the national interest, without fear, favour, or political consideration,” he said.
Speaking on behalf of the Council, Dr Wampah assured the President that the members would uphold their mandate and carry out their responsibilities diligently.
The Independent Fiscal Council was established under the Public Financial Management (Amendment) Act, 2025 (Act 1136).
The Council is mandated to promote fiscal discipline, support long-term debt sustainability and help restore credibility to Ghana’s public financial management system.
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