President Mahama inaugurates Fiscal Council to check government spending

President John Dramani Mahama has inaugurated a five-member Independent Fiscal Council to provide independent oversight of the country’s fiscal policy and promote prudent management of public finances. The Council is expected to scrutinise the government’s fiscal decisions, assess compliance with fiscal rules and make recommendations on the management of the economy. At a ceremony at the Presidency on Tuesday, President Mahama said the Council had an important role to play in sustaining economic reforms, restoring investor confidence, promoting inclusive growth and improving public service delivery. He charged the members to carry out their duties objectively and without political considerations. “Your responsibility is to scrutinise the Government’s fiscal decisions, assess compliance with established rules, and provide sound recommendations in the national interest,” Mr Mahama said. He said public demand for transparency and prudent financial management was higher than ever. Mr Mahama also said fiscal responsibility should go beyond compliance with the law and serve the interests of 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,” he said. The President urged the members to base their work on evidence and the national interest. “Your work must be guided by evidence and the national interest, without fear, favour, or political consideration,” he added. Established under the Public Financial Management (Amendment) Act, 2025 (Act 1136), the Fiscal Council is expected to promote fiscal discipline, safeguard long-term debt sustainability and strengthen public financial management. The Council will serve a four-year term and is chaired by Dr Emmanuel Oteng Kumah, an international economic consultant and former Board Chairman of Standard Chartered Bank Ghana. Source: Graphic Online