Ghanaian President John Mahama has launched the work of the five-member Independent Fiscal Council. The body is to provide independent, reliable and objective oversight of the country’s fiscal policy, MyJoyOnline reports.
The council’s tasks
During a brief ceremony at the presidential residence, Mahama said that the council’s work was important for economic reforms. According to him, these reforms are aimed at strengthening the economy, increasing investor confidence, inclusive growth, job creation and improving public services.
Council members are to analyse the government’s fiscal decisions, assess compliance with the established rules and provide well-founded conclusions in the national interest. The president also pledged to respect the body’s independence and provide institutional support for the fulfilment of its mandate.
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Composition and mandate
The council has a four-year mandate. It is headed by international economic consultant and former chairman of the board of directors of Standard Chartered Bank Ghana Emmanuel Oteng Kuma.
The body includes former Bank of Ghana Governor Henry Kofi Wampah, University of Ghana Business School professor Patrick Opoku Asuming, think tank representative Leslie Dwight Mensah, and former Ministry of Finance public policy expert J. Kweku Bedu-Addo.
Speaking on behalf of the council, Wampah assured Mahama that its members would fulfil the duties defined by the mandate. Under the amended 2025 Public Financial Management Act, Act 1136, the council is to promote fiscal discipline, long-term sustainability of public debt and the restoration of confidence in public financial management.
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