The change comes days after reports that Pakistan had been given a three-month reprieve before being placed on the list, which analysts say could hamper banking and hurt foreign investment.
Source/Credit: Reuters
By Kay Johnson, Drazen Jorgic | February 22, 2018
A global money-laundering watchdog has decided to place Pakistan back on its terrorist financing watchlist, a government official and a diplomat said on Friday, in a likely blow to Pakistan’s economy and its strained relations with the United States.
The move is part of a broader U.S. strategy to pressure Pakistan to cut alleged links to Islamist militants unleashing chaos in neighboring Afghanistan and backing attacks in India.
The Pakistani government official said the South Asian nation would be officially placed on the Financial Action Task Force (FATF) watchlist in June at its next meeting, which is why the FATF statement on Friday did not mention Pakistan.
The change comes days after reports that Pakistan had been given a three-month reprieve before being placed on the list, which analysts say could hamper banking and hurt foreign investment.
The United States spent the past week lobbying member countries of the Financial Action Task Force (FATF) to place Pakistan on a so-called gray list of nations that are not doing enough to combat terrorism financing.
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