ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 19 April. Click Here for more information.
ForumIAS Answer Writing Focus Group (AWFG) for Mains 2024 commencing from 24th June 2024. The Entrance Test for the program will be held on 28th April 2024 at 9 AM. To know more about the program visit: https://forumias.com/blog/awfg2024
- International terror financing watchdog, the Financial Action Task Force (FATF) has decided to keep Pakistan on its grey list.It means downgrading of the country by institutions like IMF, World Bank,ADB,EU and also reduction in risk rating by Moody’s, Fitch and S&P. This was decided at FATF’s week-long plenary meeting in Paris, France
- FATF has said that Pakistan has time until October 2019 to either comply with the demands made by FATF members or it could be blacklisted.The blacklisting will prevent institutions like IMF from financially supporting Pakistan, which is anticipating a financial crisis.
- The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 on the initiative of the G7.It is a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in various areas. The FATF Secretariat is housed at the OECD headquarters in Paris.
- The objectives of the FATF are to (a) set standards and promote effective implementation of legal, regulatory and operational measures (b) for combating money laundering (c)terrorist financing and (d) other related threats to the integrity of the international financial system
