Pakistan will remain on the gray list of the Financial Action Task Force (FATF). The gray list expires in February of next year. The gray list comes after Pakistan failed to meet 27 conditions required for unimpeded access to international funds. The monitoring committee has four more months to complete the conditions.
In June 2018, the FATF defeated Pakistan. Included in the gray list. The FATF says that Pakistan has completed only 21 of the 27 conditions on the gray list. That means the world is safe. The FATF said it was giving them time to fill six more gaps and that they would be blacklisted if they were not prepared to address them.
As it remains on the gray list, funding from the International Monetary Fund (IMF), the World Bank, the Asian Development Bank (ADB) and the European Union will create a crisis for Pakistan. This will make the economically backward country even more miserable. Furthermore, Pakistan needs the support of all three countries to avoid being blacklisted. China, Turkey and Malaysia continue to support Pakistan. North Korea and Iran are on the FATF gray list.
History highlights – Pakistan to remain on the FATF blacklist