President John Dramani Mahama has inaugurated Ghana’s five-member Independent Fiscal Council, giving the body a four-year mandate to scrutinise government’s fiscal decisions and promote greater discipline in the management of public finances.
The Council was inaugurated at the Presidency on Tuesday, September 8, 2026, as the government continues its economic reform programme. Its work is expected to focus on fiscal rules, debt sustainability and transparency in the use of public resources.
Mahama told the members that their role goes beyond offering advice. He tasked them with examining government’s fiscal decisions, checking compliance with established rules and making 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,” the President said.
The President also pledged to respect the Council’s independence and provide the institutional support required for it to carry out its mandate.
He urged members to base their work on evidence rather than political considerations, saying fiscal responsibility should be viewed as a duty to both current and future generations.
“Your work must be guided by evidence and the national interest, without fear, favour, or political consideration,” Mahama said.
The Council 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, former Governor of the Bank of Ghana; 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.
The body was established under the Public Financial Management (Amendment) Act, 2025 (Act 1136). Its mandate includes strengthening fiscal discipline, promoting long-term debt sustainability and improving confidence in Ghana’s public financial management system.
The Council’s inauguration comes as fiscal management remains central to Ghana’s economic policy. Its independent assessment of government decisions is intended to add another layer of scrutiny to the management of state finances.
Dr Wampah, speaking on behalf of the Council, assured the President that the members would faithfully carry out the responsibilities assigned to them under the law.
The effectiveness of the new body will ultimately depend on how independently it operates and how seriously its assessments and recommendations are considered in fiscal decision-making.
The inauguration formally begins the Council’s four-year mandate and places independent fiscal oversight at the centre of Ghana’s efforts to strengthen financial discipline and public accountability.
