Mahama Inaugurates Presidential Advisory Group on Economy, Calls for Fiscal Discipline and Structural Reforms

President John Dramani Mahama has inaugurated the Presidential Advisory Group on the Economy (PAGE), charging members to provide independent, evidence-based advice to help restore Ghana’s economic stability and rebuild investor confidence.

Speaking at the inauguration ceremony, today ,President Mahama described the formation of PAGE as a critical step toward addressing Ghana’s economic challenges and strengthening governance structures.

The President commended members for accepting the responsibility, noting that their expertise would play a vital role in shaping Ghana’s economic recovery and long-term growth.

“Your willingness to contribute your time, experience and intellect to the national cause reflects a deep commitment to public service and to the future of our Republic,” he said.

President Mahama explained that PAGE would provide strategic counsel on macroeconomic management, fiscal consolidation, debt sustainability, and coordination between fiscal and monetary policies. He added that the group would also support structural transformation, industrial development, export-led growth, and private sector expansion.

“Your counsel is expected to be frank, independent, evidence-based and anchored in the long-term national interest,” he emphasised.

The President noted that PAGE, which previously existed under late President John Evans Atta Mills and during his earlier tenure, has been reintroduced and expanded to respond to the increasing complexity of Ghana’s economy. He added that the new structure would help streamline economic governance by eliminating overlapping institutions, including the former Economic Management Team.

President Mahama also highlighted the importance of collaboration between PAGE and the Economic Policy Coordinating Committee (EPCC), which is jointly chaired by the Minister for Finance and the Governor of the Bank of Ghana.

Reflecting on Ghana’s economic challenges, President Mahama acknowledged the country’s return to debt distress despite previous recovery efforts.

“Despite the progress we have made over the years, Ghana finds itself again in debt distress after having previously declared HIPC and assuring ourselves that we would never return to such a position,” he said.

He admitted that fiscal mismanagement and policy inconsistencies contributed to the current situation, stating that, “We dissipated significant buffers and stabilisers that would have shielded our citizens from the painful domestic debt haircuts they ultimately had to endure.”

The President further cited declining crude oil production and weak governance in state-owned enterprises as areas that require urgent attention.

“Our handling of state-owned enterprises has been uneven and, at times, haphazard. Weak governance frameworks, political interference and inadequate financial discipline undermined institutions that were once pillars of stability and credibility,” he noted.

He stressed that the lessons from Ghana’s economic setbacks must guide future policy decisions.

“Our task now is correction without amnesia — learning from both our successes and failures,” he said.

President Mahama charged PAGE to help restore fiscal discipline, attract investment, and reposition Ghana as a competitive and predictable economy.

“This is not simply about recovery; it is about institutional reform, structural transformation and a permanent reset of our economic governance culture,” he stated.

The advisory group is expected to meet at least once every quarter and will provide input into major national economic decisions, including the national budget, mid-year reviews, and monetary policy developments.

President Mahama concluded by expressing confidence in the group’s ability to deliver meaningful results.

“I expect rigorous analysis, constructive debate and solutions that place Ghana firmly on a path of economic recovery, resilience and inclusive growth,” he said.

The Presidential Advisory Group on the Economy shall be chaired by His Excellency the President and shall comprise the following distinguished individuals drawn from academia, public service, and the private sector:

1.H.E. Prof. Jane Naana Opoku-Agyemang

Vice President

2.Mr. Ishmael Yamson

Private Sector Leader; Former Member of PAGE

3.Mr. Kwame Pianim

Economist and Private Sector Leader; Former Member of PAGE

4.Ms. Nana Oye Mansa Yeboaa

Former Deputy Governor of Bank of Ghana

5.Dr. Kwabena Duffuor

Economist; Former Governor of the Bank of Ghana; Former Minister for Finance; Private Sector Leader and Industrialist

6.Sir Samuel Esson Jonah

Business Executive and Private Sector Leader

7.Mr. Ato Brown

Former World Bank Infrastructure Specialist; Agribusiness Investor

8.Dr. Henry A. Kofi Wampah

Former Governor of the Bank of Ghana

9.Togbe Afede XIV

Economist and Private Sector Leader

10.Ms. Abena Amoah

Chief Executive Officer, Ghana Stock Exchange

11.Prof. Priscilla Twumasi Baffour

University Professor and Academic Researcher

12.Prof. Patience Aseweh Abor, PhD

University Professor and Researcher