On Tuesday, September 8, 2026, President John Dramani Mahama formally inaugurated the Independent Fiscal Council at a brief ceremony at the Presidency. The council, composed of five members, is charged with providing independent, credible and objective oversight of the country’s fiscal policy.
Speaking to the newly formed body, the President highlighted its crucial role in supporting reforms designed to strengthen the economy, enhance investor confidence, promote inclusive growth, create jobs and improve public services. “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.
Mahama underscored the need for greater prudence, transparency and accountability in public resource management, noting that the council’s input is especially vital as stakeholders demand higher standards of fiscal governance.
The council will serve a four‑year mandate and is chaired by Dr. Emmanuel Oteng Kumah, an international economic consultant and former Board Chairman of Standard Chartered Bank Ghana. Other members include 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, a think‑tank representative; and 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 the institutional support required for it to execute its mandate effectively. He added, “Fiscal responsibility must not be regarded merely as a statutory requirement. It is a moral obligation to present and future generations.”
The council was established under the Public Financial Management (Amendment) Act, 2025 (Act 1136) to promote fiscal discipline, ensure long‑term debt sustainability and restore credibility to Ghana’s public financial management. On behalf of the council, Dr. Wampah assured the President that its members would not be derelict in the discharge of their responsibilities as set out in their mandate.
Looking ahead, the council will be expected to discharge its duties with courage and professionalism, guided by evidence and the national interest, without fear, favour or political consideration, as the President urged.
