President John Dramani Mahama has inaugurated a five-member Independent Fiscal Council tasked with providing credible, objective and non-partisan oversight of Ghana’s fiscal policy and public financial management.
Speaking at a ceremony at the Presidency on Tuesday, President Mahama said the Council would play a critical role in sustaining Ghana’s ongoing economic reforms, restoring investor confidence, promoting inclusive economic growth and improving public service delivery.
The President urged members of the Council to carefully examine government’s fiscal decisions, assess compliance with established fiscal rules and provide independent recommendations that protect the national economic interest.
He stressed the growing demand for transparency, accountability and prudent management of public funds, noting that fiscal responsibility should go beyond being a legal requirement.
According to President Mahama, responsible management of Ghana’s finances represents an obligation to both current citizens and future generations. He therefore called on the Council to base its work on credible evidence and the national interest without political influence.
Established under the Public Financial Management (Amendment) Act, 2025 (Act 1136), the Independent Fiscal Council is expected to strengthen fiscal discipline, support long-term debt sustainability and improve confidence in Ghana’s public financial management system.
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.
Other members of the five-member Council are Dr. Henry Akpenamawu Kofi Wampah, former Governor of the Bank of Ghana; Professor Patrick Opoku Asuming, 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 inauguration is expected to strengthen fiscal oversight in Ghana, promote responsible government spending and support efforts to maintain economic stability, manage public debt and protect the country’s long-term financial sustainability.
Source: newsthemegh.com