Greek Finance Minister Wraps Up Trip to Washington D.C.

Greek Finance Minister Kostis Hatzidakis concluded his visit to Washington, D.C. on Saturday, where he attended the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.

The Greek delegation included Council of Economic Experts president Michael G. Arghyrou​ and Public Debt Management Agency Director General Dimitris Tsakonas.

At the three day event, Hatzidakis emphasized Greece’s positive economic transformation, stating, “In the past five years, Greece has shifted from being a weak link to a success story.” He credited Greece’s achievements in growth, debt management, fiscal surpluses, investment inflows, export increases, and falling unemployment rates as evidence of “the right mix of economic policy,” asserting that Greece is committed to “all necessary reforms to elevate the country even higher.”

This comes after the IMF’s latest World Economic Outlook report, discussed during these meetings, revised Greece’s growth projections upward for 2024, forecasting an increase from 2.0% to 2.3%, and for 2025, from 1.9% to 2.0%. Hatzidakis attributed this positive outlook to the government’s ongoing economic reforms, which focus on fiscal stability and growth-oriented policies.

During his visit, Hatzidakis met with IMF Managing Director Kristalina Georgieva, IMF Fiscal Affairs Director Vítor Gaspar, and IMF European Department Director Alfred Kammer. He also engaged in strategic discussions with leading global financial executives, including Blackrock Vice Chairman Philipp Hildebrand, Deutsche Bank CEO Christian Sewing, Citigroup Vice Chairman Jay Collins, and Nomura Vice Chairman Masahiro Goto. The primary focus of these meetings was on Greece’s strong investment potential, bolstered by its economic and political stability. Hatzidakis also met with representatives from major rating agencies and financial analysts to further discuss Greece’s fiscal trajectory.

In media interviews with outlets such as Reuters, CNBC, and Sky News, Hatzidakis underscored Greece’s commitment to structural reforms, specifically addressing tax evasion, privatizations, the establishment of non-state universities, and accelerated justice delivery.

Hatzidakis also participated in the Coalition of Finance Ministers for Climate Action, where Greece has been an active member, promoting collective action on climate change. In his statements, he highlighted the importance of coordinated European action, stating, “It’s essential to move from analysis to concrete actions and measurable results.”

In a roundtable session focused on Ukraine’s support and reconstruction, Hatzidakis emphasized Greece’s commitment to regional stability. He also attended the IMF’s International Monetary and Financial Committee (IMFC) plenary, addressing global economic stability.

Finally, Hatzidakis attended a working dinner hosted by Georgieva with finance ministers from other advanced European economies, where they discussed challenges to European economic competitiveness.