ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
Asia

Pak's failure to exit from FATF grey list poses risk to IMF loan: Official

Islamabad [Pakistan], Aug 6 (ANI): Pakistan's failure to exit from Financial Action Task Force's (FATF) grey list is a risk to the recently approved International Monetary Fund (IMF) loan worth USD six billion, said Teresa Daban Sanchez, IMF's Resident Representative for the country.

ANI Aug 06, 2019 13:12 IST googleads

Representative Image

Islamabad [Pakistan], Aug 6 (ANI): Pakistan's failure to exit from Financial Action Task Force's (FATF) grey list is a risk to the recently approved International Monetary Fund (IMF) loan worth USD six billion, said Teresa Daban Sanchez, IMF's Resident Representative for the country.
"Failure to exit from the FATF grey list is a risk to the recently approved $6 billion IMF deal...The IMF is responsible for the financial system stability and the FATF-related issues hamper taxation and undermine banking system," The Express Tribune quoted Sanchez as saying.
Pakistan is currently grappling with a debt-ridden economy, having secured bailouts (including that from the IMF) to stay afloat. It has been warned by the FATF with repercussions -- which may include blacklisting -- if it fails to stop terror financing, amongst other things.
Sanchez further said that an exit from the FATF list is crucial for securing private sector credit to meet external financing needs. She also added that the FATF greylisting "undermines capital inflows in addition to affecting the private sector."
"A potential blacklisting by FATF can result in a freeze of capital inflows to Pakistan, jeopardising the financing assurances under the programme," the Resident Representative stated.
The IMF official highlighted the need for Pakistan to exit from the FATF grey list ahead of the final review of the 27-point implementation plan by the FATF Plenary and the review of Pakistan's Mutual Evaluation by the Asia Pacific Group on Money Laundering.
"The IMF has an obligation to make sure that countries have legal, regulatory and financial frameworks that are compliant with the FATF's AML/CFT regulations and this decision had been taken by the IMF's Executive Board a few years ago," Sanchez said.
She also added that Pakistan had shared full details of the China-Pakistan Economic Corridor (CPEC) loans with IMF. (ANI)

Get the App

What to Read Next

Europe

Blasphemy laws in Pakistan target religious minorities: GHRD

Blasphemy laws in Pakistan target religious minorities: GHRD

At the 61st session of the United Nations Human Rights Council, the organisation Global Human Rights Defence (GHRD) raised concerns over the continued misuse of blasphemy laws in Pakistan and their impact on religious minorities.

Read More
Europe

ECO FAWN Society raises Pahalgam terror attack at UN Human Rights

ECO FAWN Society raises Pahalgam terror attack at UN Human Rights

At the 61st session of the United Nations Human Rights Council (UNHRC), Yasser Laaroussi, from the ECO FAWN Society, during General Debate under Item 3, in his oral statement, highlighted the terrorist attack that took place in Pahalgam on April 22, 2025. He urged the international community to intensify efforts to combat terrorism and ensure accountability for attacks targeting civilians

Read More
Asia

MEA rejects Pakistan’s statement on India-Canada deal

MEA rejects Pakistan’s statement on India-Canada deal

"We reject this statement made by Pakistan on the matter. India's credentials regarding non-proliferation are impeccable and well recognised by the global community. A country with a well-documented history of clandestine nuclear proliferation can hardly preach the virtues of export controls and proliferation risks. Such ludicrous statements are nothing more than an attempt by Pakistan to distract from its own abysmal record," he said.

Read More
Asia

India rejects Pakistan's "baseless allegations"

India rejects Pakistan's

India on Thursday rejected Pakistan's allegations of aggravating skirmishes with Afghanistan, calling them "baseless" and accusing Pakistan of blaming others for its own misdeeds.

Read More
Asia

Policy delays leave Pakistan short of critical medicines

Policy delays leave Pakistan short of critical medicines

Pakistan faces a severe shortage of life-saving medicines, including cancer drugs and vaccines, due to government delays in notifying official prices. While global supply remains stable, regulatory hurdles have stalled legal imports, raising concerns over patient survival and the potential rise of unregulated, counterfeit medicines.

Read More
Asia

Pakistan’s outdated mandi system stifles agricultural innovation

Pakistan’s outdated mandi system stifles agricultural innovation

Pakistan's fruit and vegetable supply remains dominated by traditional middlemen and the "mandi" system, with digital platforms handling only 2-3% of trade. Restrictive provincial laws and lack of infrastructure force farmers into dependency on commission agents, stalling modern technological transformation in the agricultural sector.

Read More
Asia

Hardships grow as Pakistan tightens its grip in Balochistan 

Hardships grow as Pakistan tightens its grip in Balochistan 

Residents in Balochistan's Zehri and Surab regions are facing a severe humanitarian crisis due to a four-day curfew and military operations. The Baloch Yakjehti Committee reported acute food shortages, blocked healthcare access, and alleged house raids by security forces, urging international bodies to investigate these fundamental rights violations.

Read More
US

"I don't want to comment", says Trump on Mojtaba Khamenei

"I don't want to comment on that," he said when asked whether victory would be possible if Mojtaba Khamenei remained in power. "But I will tell you I just spoke with various countries, the leaders of various countries, you'll have a list, and they said they've never seen anything like it, Trump added.

Read More
Asia

PoJK activist slams Pakistan’s aggression against Afghanistan

PoJK activist slams Pakistan’s aggression against Afghanistan

In a video statement, Mirza argued that the current situation between Pakistan and Afghanistan should be examined through the framework of international law, particularly the principles upheld by the United Nations.

Read More
Asia

Pakistan: Passengers stranded in Karachi

Pakistan: Passengers stranded in Karachi

Pakistan Railways cancelled 11 trains scheduled to depart from Karachi to several major cities across the country, citing technical faults, a move that left thousands of passengers stranded and drew fresh criticism over the worsening condition of Pakistan's rail system.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.