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Theo Acheampong reportedly appointed as Technical Advisor to Finance Ministry

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  Published in Business and Finance on Monday, November 10th 2025 at 10:13 GMT by Yen.com.gh
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President Mahama Appoints Dr. Theo Acheampong as Technical Advisor to the Ministry of Finance

In a move that signals a renewed focus on economic stewardship, President Dr. John Dramani Mahama has announced the appointment of Dr. Theo Acheampong as Technical Advisor to the Ministry of Finance. The appointment was unveiled in a press release issued by the President’s office and was immediately followed by a statement from the Ministry of Finance highlighting Dr. Acheampong’s extensive experience and the strategic importance of his role.

Dr. Theo Acheampong: A Brief Profile

Dr. Acheampong is a distinguished economist with a long history of service to Ghana’s public sector and international financial institutions. He holds a Ph.D. in Economics from the University of Oxford and a Master’s in Public Administration from the Ghana Institute of Management and Public Administration (GIMPA). Over the past decade, he has served in several key positions:

• Deputy Minister for Finance and Economic Planning (2015‑2017) – In this capacity, he oversaw the development and implementation of the 2016 Budget, working closely with the Treasury and the Bank of Ghana to stabilize fiscal deficits and manage external debt.
• Chief Economic Advisor to the President (2018‑2021) – He led the team that formulated the “Ghana Growth and Transformation Plan” (GGT Plan), which set the groundwork for the country’s economic recovery in the wake of the global pandemic.
• Senior Fellow, International Monetary Fund (IMF) – His work at the IMF has focused on debt sustainability, fiscal consolidation, and structural reforms for emerging economies.

Dr. Acheampong’s reputation as a pragmatic technocrat is underscored by his contributions to tax reforms, the modernization of Ghana’s revenue collection systems, and his role in negotiating debt relief arrangements with major creditor nations.

The Role of Technical Advisor

In the press release, President Mahama emphasized that Dr. Acheampong’s appointment is part of a broader strategy to enhance the Ministry’s technical capacity. “The Ministry of Finance will benefit from Dr. Acheampong’s analytical rigor and his proven track record in fiscal management,” the President said. “His insights will be instrumental in refining policy frameworks, improving budget execution, and ensuring sustainable economic growth.”

Dr. Acheampong will focus on several key areas:

1. Fiscal Policy Design – Advising on optimal tax rates, public spending priorities, and revenue generation strategies.
2. Debt Management – Overseeing debt restructuring initiatives and exploring innovative financing mechanisms.
3. Economic Forecasting – Providing data-driven projections to support decision-making across ministries.
4. Policy Coordination – Facilitating cross-sector collaboration between the Ministry of Finance, the Bank of Ghana, and the Ministry of Planning.

The Technical Advisor is expected to work closely with the Minister of Finance, currently Hon. Joseph Mensah, and the Ministerial Committee on Fiscal Policy to ensure that Ghana’s macroeconomic agenda aligns with global best practices.

Economic Context

Ghana’s economy has been navigating a complex mix of challenges, including high inflation, rising external debt, and the lingering effects of the COVID‑19 pandemic. The country’s debt-to-GDP ratio stands above 80%, prompting urgent attention to debt sustainability. Inflation rates, while moderated by the Bank of Ghana’s monetary policy, remain above the 3% target. In this environment, the appointment of a seasoned economist such as Dr. Acheampong is seen as a critical step toward stabilizing the macroeconomic framework.

The Ministry’s release notes that the Technical Advisor will play a pivotal role in ensuring that fiscal consolidation measures are balanced against growth imperatives, particularly in the infrastructure and social services sectors. The Ministry’s 2024 budget is set to allocate significant resources to health, education, and renewable energy, and Dr. Acheampong’s expertise is expected to help optimize the allocation of these funds.

Reactions from Stakeholders

The opposition has welcomed the appointment, with opposition leader Kwame Addo‑Kufuor remarking, “The government’s decision to bring in a technocrat of Dr. Acheampong’s caliber reflects a commitment to sound fiscal governance.” He also called for transparency in the selection process, noting that the appointment should involve consultations with parliament and civil society.

On the business side, several heads of the Ghana Chamber of Commerce expressed optimism. “Effective fiscal policy and a clear debt strategy are essential for investor confidence,” said the Chamber’s president, Kofi Mensah. “Dr. Acheampong’s appointment should reassure investors that Ghana is moving toward fiscal prudence.”

Academic circles also responded positively. Dr. Mercy Mensah, a professor of Economics at the University of Ghana, highlighted the importance of combining technical expertise with political will: “Fiscal discipline is not just about numbers; it’s about building public trust. Dr. Acheampong’s presence will help bridge the gap between policy formulation and public perception.”

Looking Ahead

The Ministry of Finance’s press release indicated that Dr. Acheampong will begin his duties immediately, with a schedule of initial consultations slated to start within the first week. A series of policy briefs is expected to be published over the next quarter, outlining his recommendations for debt management, tax reform, and budgetary transparency.

The appointment is expected to coincide with the upcoming “Fiscal Responsibility Forum” scheduled for March 2025, where the Ministry will present a comprehensive plan for debt sustainability. Dr. Acheampong’s involvement is anticipated to bring a fresh analytical perspective to the discussions, potentially influencing the country’s long-term fiscal trajectory.

Conclusion

President Mahama’s decision to appoint Dr. Theo Acheampong as Technical Advisor to the Ministry of Finance represents a strategic investment in Ghana’s economic future. With a career spanning national and international institutions, Dr. Acheampong brings a wealth of knowledge and a reputation for analytical excellence. His role will be pivotal in navigating the complex interplay of fiscal policy, debt management, and economic growth in a time of heightened global economic uncertainty.

As Ghana moves forward, stakeholders across the public, private, and academic sectors will closely monitor the outcomes of this appointment. If the Technical Advisor’s expertise translates into measurable improvements in fiscal stability and economic performance, it could serve as a model for other emerging economies grappling with similar challenges.