ACCRA, Ghana (XOL Africa) — President John Dramani Mahama on Tuesday inaugurated a five-member Independent Fiscal Council, tasking the body with providing objective, nonpartisan oversight of Ghana’s fiscal policy as the government seeks to strengthen economic management and restore investor confidence.
Mahama said the council would play a key role in sustaining economic reforms, promoting inclusive growth and improving public service delivery.
“Your responsibility is to scrutinise the Government’s fiscal decisions, assess compliance with established rules, and provide sound recommendations in the national interest,” Mahama said at a ceremony at the Presidency in Accra.
He said public expectations for transparency and prudent management of state finances were higher than ever.
“Fiscal responsibility must not be regarded merely as a statutory requirement; it is a moral obligation to present and future generations,” Mahama said. “Your work must be guided by evidence and the national interest, without fear, favour, or political consideration.”
The council was established under the Public Financial Management (Amendment) Act, 2025 (Act 1136). Its mandate includes promoting fiscal discipline, protecting long-term debt sustainability and strengthening the credibility of Ghana’s public financial management framework.
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, a former governor of the Bank of Ghana; Prof. Patrick Opoku Asuming, an associate professor at the University of Ghana Business School; Leslie Dwight Mensah, an economist and policy analyst; and J. Kweku Bedu-Addo, a public policy expert.
The council’s establishment comes as Ghana continues efforts to strengthen fiscal management and maintain debt sustainability. Its independent oversight is intended to provide greater scrutiny of government fiscal decisions and reinforce confidence in the country’s public financial management system.
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