President Mahama Swears In Independent Fiscal Council to Strengthen Public Financial Discipline

President John Dramani Mahama has sworn in the newly constituted Independent Fiscal Council, a five-member body established to strengthen fiscal governance, promote responsible public spending and support efforts to restore discipline in Ghana’s public finances.

The Council was established under the Public Financial Management (Amendment) Act, 2025 (Act 1136) and is mandated to provide independent scrutiny of government’s fiscal operations, monitor debt sustainability and promote transparency and accountability in the management of public resources.

Speaking at the swearing-in ceremony, President Mahama stressed the importance of fiscal responsibility in safeguarding Ghana’s economic future. He said fiscal responsibility must go beyond compliance with legal requirements, describing it as a responsibility owed to both present and future generations.

“Fiscal responsibility must not be regarded merely as a statutory requirement; it is a moral obligation to present and future generations,” President Mahama stated.

The President urged members of the Council to discharge their mandate independently and objectively, relying on evidence and putting the national interest ahead of political considerations. He said the Council’s work would be critical to strengthening public confidence in the management of the country’s finances and ensuring that government resources are used prudently.

The five-member Independent Fiscal Council is chaired by Dr Emmanuel Oteng Kumah, an International Economic Consultant. Other members are Dr Henry Kofi Wampah, former Governor of the Bank of Ghana; Prof. Patrick Opoku Asuming of the University of Ghana Business School; Leslie Dwight Mensah, a Think Tank Representative; and J. Kweku Bedu-Addo, a Public Policy Expert.

The Council is expected to play an important role in promoting fiscal transparency, assessing the sustainability of government’s financial decisions and strengthening oversight of public expenditure. Its establishment forms part of efforts to institutionalise stronger fiscal management practices and help ensure that Ghana’s public finances remain sustainable over the long term.

President Mahama expressed confidence that the Council would execute its mandate with professionalism, independence and a firm commitment to the economic interests of Ghana.