Addressing the five-member Council at a brief ceremony at the Presidency, President Mahama said its mandate was critical to the success of ongoing reforms aimed at strengthening the economy, boosting investor confidence, promoting inclusive growth and job creation, and improving 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.

The President emphasised that the Council’s input was particularly important at a time when stakeholders expect greater prudence, transparency and accountability in the management of public resources.

The Council has 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.

The other members are Dr. Henry Akpenamawu Kofi Wampah, former Governor of the Bank of Ghana; Professor Patrick Opoku Asuming of the University of Ghana  Business School, representing academia; Leslie Dwight Mensah, representing think tanks; 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.

“Fiscal responsibility must not be regarded merely as a statutory requirement. It is a moral obligation to present and future generations,” he said.

He also tasked the Council to discharge 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 its members would not be derelict in the discharge of their responsibilities as set out in their mandate.

The Independent Fiscal 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.