NEW DELHI: In a major relief for cash-strapped Pakistan, the Paris-based Financial Action Task Force (FATF) on Friday took the terror-tainted country out of its inglorious ‘grey list’ (increased monitoring), four years after it was placed on it.
With the negativity gone, Islamabad will now be in a better position to seek financial aid from the International Monetary Fund, the World Bank, the Asian Development Bank and the European Union to support its economy.
Announcing the decision after the two-day plenary in Paris on Friday, FATF president Raja Kumar said Pakistan’s leadership showed a high level of commitment to combat financial terrorism and money laundering.