By Iddi Yire
Accra, Sept 08, GNA – President John Dramani Mahama has inaugurated the Independent Fiscal Council, charging it to provide independent, credible and objective oversight of the country’s fiscal policy.
A statement issued by the Presidency said the President, addressing the five-member Council at a brief ceremony in Accra, noted that its mandate was critical to the success of ongoing reforms aimed at strengthening the economy, boosting investor confidence, promoting inclusive growth, creating jobs and improving 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 said.
He emphasised that the Council’s input was needed at a time when stakeholders expected 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 former Board Chairman of Standard Chartered Bank Ghana.
Other members are Dr Henry Akpenamawu Kofi Wampah, former Governor of the Bank of Ghana; Professor Patrick Opoku Asuming, representing academia through the University of Ghana Business School; Mr Leslie Dwight Mensah, representing 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 the institutional support required for it 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 said, charging 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, Dr Wampah assured the President that members would faithfully discharge their responsibilities as stipulated in their mandate.
Present at the ceremony were Dr Julius Debrah, Chief of Staff at the Presidency; Dr Cassiel Ato Baah Forson, Minister for Finance; Mr Seth Terkper, Presidential Adviser on the Economy; and Mrs Joyce Bawa Mogtari, Presidential Adviser and Special Aide to the President.
The Independent Fiscal Council, established under the Public Financial Management (Amendment) Act, 2025 (Act 1136), is an oversight body mandated to promote fiscal discipline, ensure long-term debt sustainability and restore credibility to public financial management.
GNA
Edited by Lydia Kukua Asamoah