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Showing posts from June 16, 2019

Pakistan fails to fulfil 25 of 27 FATF points, downgrading by IMF, World Bank to continue

PTI | Updated: Jun 16, 2019, 18:25 ISTHIGHLIGHTSMultilateral lenders like the IMF, the World Bank and the EU may continue downgrading Pakistan, making its financial situation more precarious"It has been unable to complete 25 of its 27 action points. It has one last chance, till its 15-month deadline ends in October 2019, when the FATF Plenary will be held," sources saidNEW DELHI: Pakistan has failed to complete 25 of the 27 action points given by the international terror financing watchdog FATF to check funding to terrorist groups such as LeT and JeM and frontal groups like Jamat-ud-Dawah and Falah-e-Insaniat Foundation.
With this, multilateral lenders like the IMF, the World Bank and the EU may continue downgrading Pakistan, making its financial situation more precarious.
The Paris-headquartered Financial Action Task Force has asked Pakistan to explain whether it has launched any investigation into the $7 million allocated to maintain schools, madrasas, clinics and ambulanc…