Mahama launches fiscal watchdog to scrutinise government spending
The five-member body has been given a four-year mandate to assess the government’s compliance with fiscal rules and help protect Ghana’s long-term debt sustainability.
President John Dramani Mahama has inaugurated Ghana’s Independent Fiscal Council, giving it responsibility for independently scrutinising the government’s fiscal decisions and compliance with established financial rules.
The five-member council will assess fiscal policy and provide objective advice intended to promote budget discipline, protect long-term debt sustainability and restore confidence in the management of public finances.
At its inauguration at the Presidency on Tuesday, 8 September 2026, President Mahama said the council must examine government decisions without political influence.
“Your work must be guided by evidence and the national interest, without fear, favour or political consideration,” he said.
The council is backed by the Public Financial Management (Amendment) Act, 2025 (Act 1136) and has been appointed for a four-year term.
It is chaired by Dr Emmanuel Oteng Kumah, an international economic consultant and former board chairman of Standard Chartered Bank Ghana.
Its other members are former Bank of Ghana Governor Dr Henry Akpenamawu Kofi Wampah; University of Ghana Business School academic Professor Patrick Opoku Asuming; think-tank representative Leslie Dwight Mensah; and former Ministry of Finance public policy expert J Kweku Bedu-Addo.
The council’s establishment forms part of reforms aimed at strengthening Ghana’s fiscal management and improving confidence in the economy.
President Mahama said its work would be crucial at a time when the public and other stakeholders expected prudence, transparency and accountability in the use of state resources.
“Your responsibility is to scrutinise the government’s fiscal decisions [and] assess compliance with established rules,” he told the members.
The President pledged to respect the council’s independence and provide the institutional support it requires to carry out its duties.
“Fiscal responsibility must not be regarded merely as a statutory requirement.
It is a moral obligation to present and future generations,” he said.
The council’s effectiveness will depend on its ability to assess government policy objectively and publicly hold the administration to the fiscal standards set by law.
Speaking on behalf of the members, Dr Wampah said the council would fulfil the responsibilities contained in its mandate.
The inauguration was attended by Chief of Staff Dr Julius Debrah, Finance Minister Dr Cassiel Ato Forson, Presidential Adviser on the Economy Seth Terkper, and presidential adviser and special aide Joyce Bawa Mogtari.
The council is expected to provide an additional layer of oversight over decisions affecting government revenue, expenditure, borrowing and debt.
Its performance will ultimately be judged by whether its assessments influence fiscal decisions and whether the government accepts scrutiny when the council’s conclusions are critical of official policy.