Kristalina Georgieva, Managing Director of the International Monetary Fund, praised the remarkable progress of the Greek economy and the new role the country now plays as a force for stability and reform during her meeting with Kyriakos Pierrakakis, Ministerof National Economy and Finance and President of the Eurogroup, Kyriakos Pierrakakis, in Brussels.
The meeting took place in connection with Greece’s participation in SEETAC (Southeast Europe Regional Technical Assistance Centre), the IMF’s new Regional Technical Assistance Centre for Southeast Europe, in which our country participates as a founding partner.
The IMF Managing Director stated:
“Thank you very much. My mission today is to express my deep gratitude to Greece for its partnership with the IMF in an effort to strengthen the capabilities and expertise of countries aspiring to join the European Union.
At the same time, I want to acknowledge the remarkable progress of Greece, a country that faced serious difficulties during the Eurozone crisis but has emerged as one of Europe’s leading economies today. It is one of only five countries to have a budget surplus, and this surplus enables it to generously share its experience and provide financial support to countries advancing on their path toward accession to the European Union.
Allow me to conclude with two messages:
First, congratulations to Greece on its achievements, its remarkable progress, and the leadership that has brought the country to where it is today. Your role has been decisive.
And second, I wish every success to the new Center, the 18th in the family of IMF regional centers, and I welcome Greece as a founding partner of this new venture.
This marks a new era of cooperation between Greece and the IMF: from a recipient of technical assistance to a provider of expertise to others.”
For his part, Kyriakos Pierrakakis stated:
“Dear Kristalina, it is a great pleasure to have you with us today, you, the Managing Director of the IMF, on a day marked by this important announcement we have just made: Greece’s participation in SEETAC, the IMF’s Regional Technical Assistance Center for Southeast Europe.
This participation will be supported by an annual contribution from Greece of 1 million euros, over a five-year period. I would like, however, to emphasize that, as you pointed out, this is not merely a financial commitment. It is primarily about the expertise and knowledge we have gained through the implementation of reforms. Because it is precisely these reforms that create sustainable fiscal surpluses and sustainable rates of economic growth.
I would like to highlight two points. First, this decision carries strong symbolic significance. It sends a powerful message on our part.
Because Greece was once a country that participated in an IMF program, while today it is transforming into a country that contributes reform experience, knowledge, and expertise to countries in the Western Balkans and Moldova.
And second, it is a concrete expression of Greece’s leadership role in the broader region, which for us also entails greater responsibility: to help accelerate convergence among the countries of the region, strengthen their resilience, and promote greater prosperity for all.
Thank you once again for being here with us today. I look forward to continuing our discussions both today and at tomorrow’s Eurogroup meeting in Luxembourg.”
What Greece’s participation in SEETAC signifies
Greece’s participation in SEETAC marks a new phase in the country’s cooperation with the IMF and strengthens its role as a force for stability, reform, and the transfer of know-how in Southeast Europe.
Greece will contribute €1 million annually for the next five years, for a total of €5 million, and will participate in the Center’s Steering Committee, assuming an institutional role in shaping its strategic priorities, in the approval of annual work programs, and in monitoring their implementation.
SEETAC is the IMF’s new Regional Capacity Development Center for Southeast Europe. It will collaborate with Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia, and Moldova, with the aim of strengthening economic institutions and policy-making in the countries of the region.
Its work will focus on critical areas of economic governance, such as fiscal policy, tax administration, public finance management, monetary and financial policy, macroeconomic frameworks and forecasts, statistical systems, as well as legal and institutional issues. Support will be provided through technical assistance, training programs, the exchange of know-how, and practical advisory support.
The initiative takes on particular significance at a time when the European Union is placing enlargement back at the center of its strategic agenda. Through its participation in the Center, Greece will actively contribute to preparing the countries of the region for their path toward the European Union, drawing on the experience it has gained from the reforms and modernization of its institutions in recent years.
The initiative takes on added significance in view of Greece’s Presidency of the Council of the European Union in the second half of 2027, when enlargement and the European perspective of the Western Balkans are expected to be top European priorities.
SEETAC is part of the IMF’s global network of Regional Capacity Development Centers and is expected to begin operations by January 2027. It will be based in Rome and will serve as the IMF’s regional office for Southeast Europe.
Greece’s participation also carries additional symbolic significance. A country that just a few years ago was under an economic adjustment program and received technical and financial support from international organizations is now among the countries actively contributing to the financing and transfer of know-how to other countries. From a country that received aid, Greece is evolving into a country that shares experiences, knowledge, and best practices with its neighbors and actively supports their European integration.