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Breaking the debt cycle: Digitalization and structural reforms as drivers of growth and debt reduction – the Greek experience

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debt crisis the Greek experience

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Meeting Date
11 March 2026
10:00 - 12:00 hrs. Room S4, Building S2
Location
Palais des Nations, Geneva, Switzerland
Body

To emerge from a deep and prolonged economic and debt crisis, Greece undertook a broad program of economic and administrative reforms aimed at restoring fiscal sustainability, reviving growth, and strengthening social cohesion. Since 2019, Greece achieved record debt reduction, improving its debt-to-GDP ratio from 209% to less than 140% in 2026, while achieving renewed economic growth and safeguarding vulnerable social groups. These outcomes were not the result of austerity measures, but of structural reforms, with the digital transformation of the state playing a central role in improving public administration, increasing revenues, reducing costs, enhancing transparency, and attracting investments. Other strategic interventions, such as leveraging the energy transition to renewable energy sources, in order to reduce energy costs and attract investments, were also key enablers.

Greece’s experience offers practical lessons and transferable best practices for countries facing high debt burdens and limited fiscal space on how growth, debt reduction, and social protection can be pursued simultaneously, while avoiding socially disruptive and counterproductive draconian austerity measures.

Objectives

In an interactive panel, the event aims to:

  • Present Greece’s post-crisis reform trajectory as a case study of integrated economic transformation
  • Highlight the role of digitalization in strengthening public finances through higher revenue collection, reduced administrative costs, and improved service delivery
  • Showcase how simplifying procedures and modernizing legislation can support growth and fiscal sustainability.
  • Identify policy lessons and best practices, such as using the energy transition as a driver for economic growth and investment, relevant for developing countries seeking inclusive growth and debt reduction
  • Foster dialogue between policymakers, international organizations, and development partners

Programme

  • Opening Remarks
  • Keynote Presentation by Deputy Minister of National Economy and Finance of Greece, Giorgos Kotsiras “Greece’s post-crisis reform model: digitalization, structural reforms, and fiscal outcomes”
  • Panel Discussion
    • Digitalization and revenue mobilization
    • Social protection and inclusive reform design
    • The energy transition as a driver for inclusive economic growth and investment
  • Interactive Discussion
    Reflections from member states and international organizations
  • Closing remarks

Speakers

  • H.E. Ambassador Ioannis Ghikas, Permanent Mission of Greece
  • H.E. Ambassador Salomon Eheth, Permanent Mission of the Republic of Cameroon
  • Ms. Regina Sancha, Spain
  • Dr. Patrick Ndzana Olomo, African Union Commission
  • Ms. Christine Caralis Wallier, Building Bridges Foundation
  • Mr. Haris Antoniou, Codrus Capital

Participation

The event is intended for delegates of member States, and it presents a unique opportunity to gain critical insights into a country experience to replicate policy tools for developing economies and understand how digital and green transitions can reinforce fiscal sustainability.

Follow online

A Youtube livestream will be available for those who cannot attend in person or wish to watch the recording.

Registration

Online registration is mandatory for all those wishing to attend the meeting. Early registration is advisable so that timely approval may be received for the issuance of a ground pass to the Palais des Nations

Georgios Kotsiras
Deputy Minister
National Economy and Finance of Greece

Mr. Georgios Kotsiras was appointed Deputy Minister of Economy and Finance in March 2025. From July 2019, he has been elected MP for West Attica with New Democracy and from January 2021 to May 2023 he served as Deputy Minister of Justice, responsible for International Cooperation and Human Rights. From June 2023 to March 2025 he served as Deputy Minister of Foreign Affairs.

During the period 2019-2021, he was a member of the Standing Committee on Public Administration, Public Order and Justice, the Special Standing Committee on Equality, Youth and Human Rights, the Subcommittee on Disability Issues and the Constitutional Revision Committee (2019), Vice-Chairman of the Greece-France Friendship Group of the Parliament and Member of the Greece-Serbia Friendship Group of the Parliament.

He is a graduate and Doctoral Degree holder of the School of Law of the National and Kapodistrian University of Athens, specializing in European Law, Competition Law, State Aid, Business Law and Administrative Law (LL.M, Master II). He holds two postgraduate degrees: in European Law from the School of Law of the National and Kapodistrian University of Athens and in Administrative Law and Local Self-Government (Droit administratif et Collectivités Territoriales) from the University of Aix-Marseille III “Paul Cézanne” in France.

He has practiced law specializing in Competition Law, State Aid, Administrative, Commercial and European law. He has been elected Board Member of the Trainee & Young Lawyers’ Association of Athens twice, having served as a member of the Board, Vice President and President (2010-2014). He has been a Greek champion in tennis (2nd place at the 2001 Panhellenic Championship in doubles under 18).

Ioannis Ghikas
Permanent Representative
Permanent Mission of Greece to the UN and other international organizations in Geneva

Ambassador Ghikas is the Permanent Representative of Greece to the UN and other international organizations in Geneva since 2023. Prior to this role, most recently he served as Deputy Permanent Representative of Greece to the EU; Director at the Department for European Integration, EU Economic and Monetary Policy, for the Ministry of Foreign Affairs.

He holds a Bachelor of Arts in Mathematics from the Johns Hopkins University.

Salomon Eheth
Extraordinary and Plenipotentiary Ambassador and Permanent Representative
Permanent Mission of the Republic of Cameroon

S.E. M. Salomon Eheth is currently the Extraordinary and Plenipotentiary Ambassador and Permanent Representative at the Permanent Mission of the Republic of Cameroon.

Patrick Ndzana Olomo
Economist
African Union Commission

Dr. Patrick Ndzana Olomo is Economist, Acting Director Economic Development, Integration and Trade Directorate and Head of Economic Policy and Sustainable Development Division and Coordinator of the Productive Transformation and Regional Value Chain Initiatives at the African Union Commission (AUC) in Addis Ababa, Ethiopia.

His work includes contributing to Africa’s economic transformation through regional value chains, industrialization, financial Sector Development and Regional Integration in Africa.

Before joining the Commission, he served as Lecturer, at Omar Bongo University (ENSET-Gabon) and International Consultant at the United Nations Development Programme (UNDP), the African Development Bank and the Economic Community of Central African States (ECCAS), where he successfully applied economic principles to produce rigorous analytical work and policy orientations in private sector development, macroeconomic and financial situation Central African Countries for economic and social transformation.

Dr. NDZANA's research interests include: international economics, investment, private sector, regulation, institutions, and policy evaluation. In addition, Dr. NDZANA is the Editor of the African Integration and Development Review of the AUC. He holds a PhD in Economics from Dschang University (Cameroon).

Regina Sancha Rodríguez
Deputy Director General for External Debt Management and International Finance
Secretary General of the Treasury, Spain

Ms. Sancha is currently Deputy Director General for External Debt Management and International Finance – under the Secretary General of the Treasury - a Unit where she has been working as a Senior Advisor since 2023, and where she has been the Head of the Spanish delegation to the Paris Club, representing the Kingdom of Spain in sovereign debt restructurings, defining Spain's position regarding the external debt, contributing to the analysis of operations under the financial instruments for official support of internationalization and development and managing the economic and diplomatic relations related to Spain's Debt Swaps Programs for Development.

Ms. Sancha belongs to the High Corp of State Economists and Trade Experts of the State in Spain.

Previously, she served as Chief Economic and Commercial Counsellor at the Embassy of Spain in New Delhi, India, and has held various positions at the Spanish Ministry of Economy, Trade and Business: Chief of Staff to the Director General of International Trade and Investment and Under Deputy Director General for Trade Policy with Europe, Asia, and Oceania.

Christine Caralis Wallier
Head of Strategic Partnerships
Building Bridges

Christine Caralis Wallier is Head of Strategic Partnerships at Building Bridges, a role she has held since April 2023. She brings over fourteen years of experience in renewable energy, sustainable finance, and international energy policy.

Prior to joining Building Bridges, Christine served as Head of ESG and Head of Marketing and Outreach at National Energy Holdings, a renewable energy developer building large scale solar, wind, and battery storage projects in Greece. She developed the company’s ESG framework and worked closely with senior leadership and stakeholders to embed sustainability across operations.

Earlier in her career, Christine spent nearly twelve years at Gresham House in London, where she managed investor relations and fundraising for clean energy investment strategies supporting technologies such as solar PV, wind, battery storage, and sustainable transport. She also worked at the International Energy Agency, contributing to analysis of energy policies across OECD countries.

Christine holds a BA in International Relations from the University of Pennsylvania and a Master’s in Energy Policy from Columbia University.

Harris Antoniou
Founder and Managing Director
Neptune Maritime Leasing Ltd

Harris Antoniou is the Founder and Managing Director of Neptune Maritime Leasing Ltd, established to modernize maritime finance and support the fleet renewal required for the decarbonisation of the global merchant fleet.

He is also the Founder of Codrus Capital AG, an investment and advisory firm focused on transformative technologies and real assets. Harris is an investor and board member of Natech Banking Solutions SA, a fast-growing financial software company delivering end-to-end banking platforms to banks, fintechs, and e-money institutions. He played a key role in the establishment of Snappi, Greece’s first fully digital bank, and currently serves on its Board of Directors.

With over 30 years of experience, Harris has held senior executive and C-suite roles across the financial and investment sectors, with a strong focus on energy, commodities, transportation, and structured debt and equity investments. His career spans investment banking, asset-backed financing, and strategic capital deployment, consistently operating at the intersection of finance, technology, and real-economy assets.

Since May 2023, Harris has served as Board Member and Treasurer of Komvos-Node – Networks of Global Hellenism, a non-profit organisation founded in Greece to promote dialogue and initiatives around scientific, technological, and societal advancement. He is also Vice Chairman of the Zug Commodity Association and a Board Member of the Hellenic Marine Environment Protection Association (HELMEPA).

Co-organizer(s):
Permanent Mission of Greece to the United Nations in Geneva

languages
Language(s)
English