As the government sets the stage to establish an Independent Fiscal Council, banking and financial consultant, Dr. Richmond Atuahene, is questioning whether such a body will make any real difference in the country’s public financial management.
Dr. Atuahene says the country’s track record shows that no institution, whether constitutionally granted or otherwise, can be truly independent when appointments are made by politically elected leaders.
He cited the case of the former Auditor-General, Daniel Domelevo, who was constitutionally expected to act without fear or favor, but was forced into early retirement by presidential authority.
In an interview with The High Street Journal, the banking and financial consultant maintained that Ghana’s problem is not competence. He believes that many of the people appointed are qualified. However, the issue is whether the political establishment will ever allow them to work independently without interference.
He further argued that laws establishing such councils can be easily suspended or amended by any ruling party with a parliamentary majority, since they are not entrenched in the constitution.
Citing a precedent to buttress his argument, he referenced how the previous administration suspended the Fiscal Responsibility Rule during the COVID-19 pandemic, despite its importance in curbing reckless spending.
For him, even entrenched constitutional provisions come under attack in this country, and hence, how much more ordinary Acts of Parliament and subsidiary laws.
Dr. Atuahene insists that the proposed fiscal council risks being just another superficial structure that will appear independent on paper but be powerless in practice.
“I don’t think there is any independent institution in Ghana,” he said, adding that “So creating another one will only give the semblance of independence, not the reality.”
This perspective from the financial and banking consultant reflects deep public skepticism about whether political leaders are truly willing to subject themselves to strong fiscal discipline and long-term accountability, especially in a country where institutions often bend under partisan pressure.
