- The Financial Action Task Force(FATF) has said that Pakistan could be put on the watchdog’s blacklist if the country fails to fulfill its anti terror action plan.
- FATF President said that Pakistan has already missed two deadlines and decision in this regard would be taken in October 2019 where Pakistan will be assessed on the actions they have taken.
- Among the countries that participated at the plenary, China, Turkey, Malaysia, Indonesia, Saudi Arabia, and the Gulf Cooperation Council has asked the FATF to give Pakistan more time to follow the action plan.
- Being on a blacklist of the financial watchdog has the potential to severely cripple and isolate Pakistan financially that could lead to a downgraded credit rating and denial of loans and developmental assistance.
- Currently,FATF had put Pakistan on the greylist and hand it a 27-point action plan meant to be implemented within 18 months (by September 2019).
- India has been publicly pushing for Pakistan to be placed on the blacklist alongside Iran and North Korea for its failure to show credible,verifiable, irreversible and sustainable measures against terror groups operating within its territory.
- FATF is a global task force which was formed in 1989 by different countries to combat money laundering, terrorist financing and other illegal activities related to international financial system.
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