International Monetary Fund (IMF) Resident Representative Teresa Daban has said that it is essential for Pakistan to exit the grey list of the Financial Action Task Force (FATF) in order to secure private sector credit to meet external financing needs. “Failure to exit from the FATF grey list is a risk to the recently approved $6 billion IMF deal,” said Daban.
Pakistan was placed on the FATF list in June 2018 owing to shortcomings in effectively addressing terrorist financing risks. The IMF also added a structural benchmark in the $6 billion that requires Pakistan to fulfil at least 27 actions agreed with the FATF by October 2019.
Source: Express Tribune