Monday, April 15, 2024

Nearly $38 Billion Lost by Pakistan Due to FATF Grey Listing

As a result of the Financial Action Task Force (FATF) decision to put the country on its grey list three times since 2008, Pakistan has suffered a whopping $38 billion economic loss, as per a new research paper published by an independent think-tank, Tabadlab.

The findings of Dr. Naafey Sardar’s ‘Paying the expense of global politics—the effect of FATF grey-listing on Pakistan’s economy’ come amid Pakistan’s low chances of leaving the grey list on Thursday (today).

The FATF may keep Islamabad on the list of a handful of countries whose laws against money laundering and terrorist financing do not completely comply with global standards.

Sources said that progress by Pakistan on at least three out of six remaining action points needs more work. A source from the Finance Ministry, however, said that before the formal announcement by the global watchdog, little could be said.

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