President Mahama inaugurates Independent Fiscal Council to strengthen fiscal discipline
President John Dramani Mahama has inaugurated a five-member Independent Fiscal Council with a mandate to provide independent, credible and objective oversight of Ghana’s fiscal policy.
The Council was inaugurated at the Presidency in Accra on Tuesday, September 8, 2026, as part of ongoing efforts by the government to strengthen fiscal management, boost investor confidence and promote sustainable economic growth.
Addressing the members, President Mahama said the Council’s mandate was critical to the success of reforms aimed at strengthening the economy, creating jobs, improving public services and ensuring inclusive growth.
“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.
The President noted that the Council’s work had become particularly important at a time when Ghanaians and other stakeholders were demanding greater prudence, transparency and accountability in the management of public resources.
He pledged to respect the independence of the Council and provide the necessary institutional support to enable it to effectively discharge its mandate.
“Fiscal responsibility must not be regarded merely as a statutory requirement. It is a moral obligation to present and future generations,” President Mahama stressed.
He urged the members to discharge their responsibilities with courage and professionalism, insisting that their decisions 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,” he added.
The Council, which has a four-year mandate, is chaired by Dr Emmanuel Oteng Kumah, an international economic consultant and former Board Chairman of Standard Chartered Bank Ghana.
Its other members are former Bank of Ghana Governor Dr Henry Akpenamawu Kofi Wampah; Professor Patrick Opoku Asuming of the University of Ghana Business School, representing academia; Mr Leslie Dwight Mensah, representing think tanks; and Mr J. Kweku Bedu-Addo, a former public policy expert at the Ministry of Finance.
Speaking on behalf of the Council, Dr Wampah assured President Mahama that the members would not abdicate their responsibilities as set out in their mandate.
The ceremony was attended by Chief of Staff at the Presidency Dr Julius Debrah, Finance Minister 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 is backed by the Public Financial Management (Amendment) Act, 2025 (Act 1136). It was established to promote fiscal discipline, ensure long-term debt sustainability and restore credibility to Ghana’s public financial management system.
