ATHENS –
National Economy and Finance Minister Kyriakos Pierrakakis participated on April 24 in two important international events in Washington D.C., in the context of the Spring Meetings of the International Monetary Fund (IMF): the Foreign Policy Solutions Summit and the special IMF-World Bank Week event at the Atlantic Council.
Foreign Policy Solutions Summit
“We are in the midst of a very different decade”, said Pierrakakis, referring to the anniversary on Wednesday of Greece signing the first memorandum with its creditors at the start of the debt crisis. “We are growing rapidly, with a growth rate of 2.3%, which is significantly higher than the European average. A few days ago, we announced a primary surplus of 4.8%, at a time when only six countries in Europe are showing a surplus,” he said during the Foreign Policy Solutions Summit.
Pierrakakis participated in a discussion with CEO and publisher Andrew Sullinger, on the topic of economic diplomacy in a divided international environment. He focused on Greece’s reform efforts, which are being presented as a model for the policies that other countries are called upon to follow, in view of the prevailing economic and geopolitical uncertainty.
The minister also referred to the necessary reforms within the EU, emphasizing the need to remove internal barriers to trade between member states and, citing the Draghi and Letta reports, pointed out that these barriers are equivalent to the existence of tariffs.
“In this period, characterized by unprecedented events and increased uncertainty, we need more reforms at the global level,” he said.
Atlantic Council – World Bank Week
At the Atlantic Council event, the minister analyzed the global economic challenges, contrasting the uncertainty of the international environment with the stability offered by a commitment to structural reforms.
“The message I want to send in my new capacity is that Greece is back,” he said. “Greece is now an extremely attractive destination for investment, for studies, and we aspire to maintain the policies that led us to this point.”
The minister presented the positive performance of the Greek economy, emphasizing the country’s return to a stable growth trajectory, while extolling the strength and resilience shown by the Greek people in the course of reforms.
He referred to the government’s main reform priorities for the coming period, with an emphasis on combatting tax evasion, attracting investment and taking measures that will unleash the growth potential of the Greek economy. He expressed the view that inflationary pressures will de-escalate in the coming months, while declaring the government’s strong support for European efforts to introduce the digital euro.
“We do not have the luxury of not moving forward with European integration,” he stressed.
Pierrakakis reiterated the Greek government’s consistent position in favour of free trade and the need for zero tariffs between allies, in the wake of the latest developments in the US trade war. At the same time, he noted that Greece will target additional markets for its products, such as India, and at the same time seeks to attract more foreign direct investment.
