President John Dramani Mahama has inaugurated the Independence Fiscal Council, charging it to provide independent, credible and objective oversight of the country’s fiscal policy.
Addressing the five-member committee at a brief ceremony at the Presidency on Tuesday, September 8, 2026, he said their mandate is key to the success of ongoing reforms designed to strengthen the economy, boost investor confidence, promote inclusive growth, job creation, and improved public services.
“Your responsibility is to scrutinise the Government’s fiscal decisions, assess compliance, with established rules, and provide sound requirements in the national interest,” the President emphasised, noting that the Council’s input is needed at a time stakeholders expect prudence, transparency and accountability in the management of public resources.
The Council, which has a four-year mandate is chaired by Dr. Emmanuel Oteng Kumah, an International economic consultant and a former Board Chairman of Standard Chartered Bank Ghana.
It includes Dr. Henry Akpenamawu Kofi Wampah, a former Governor of the Bank of Ghana; Professor Patrick Opoku Asuming, a representative from academia (University of Ghana Business School); Mr Leslie Dwight Mensah, a representative from Think Tanks; and Mr J. Kweku Bedu-Addo, a former Public Policy Expert at the Ministry of Finance.
President Mahama pledged to respect the Council’s independence and provide institutional support required to execute its mandate effectively.
“Fiscal responsibility must not be regarded merely as a statutory requirement. It is a moral obligation to present and future generations.” he noted, tasking the Council to uphold its responsibilities, with courage and professionalism.
“Your work must be guided by evidence and the national interest, without fear, favour, or political consideration,” President Mahama stated.
On behalf of the Council, former Governor of the Bank of Ghana, Dr Wampah, assured the President they will not derelict their responsibility as spelt out in their mandate.
Present were the Chief Staff at the Presidency Dr Julius Debra, the Minister for Finance 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, backed by the Public Financial Management (Amendment) Act, 2025 (Act 1136), is an oversight body established to promote fiscal discipline, ensure long-term debt sustainability, and restore credibility to public financial management.
By Komla Klutse
