 "India to press FATF to put Pakistan back in grey list: Report")
India is likely to press the Financial Action Task Force (FATF) to add Pakistan back to its grey list during the terror financing watchdog’s next meeting, news agency Reuters has reported.
“India will take it up in the FATF meeting coming up. India is making preparations accordingly,” sources said.
Countries on FATF’s grey list are subjected to increased monitoring and scrutiny on the financial front, which might lead to a significant drop in foreign direct investment inflows and aid approvals.
As a country is placed on the grey list, it means it has “committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring”.
As of now, 25 nations have been added to the grey list under FATF.
Pakistan was put on the grey list in 2018 by the FATF and was eventually taken off in 2022, which helped Islamabad gain access to loans and aid from global financial institutions.
According to media reports, apart from pressing FATF, New Delhi will also oppose the upcoming World Bank funding for Pakistan.
Tensions between the two nuclear-armed neighbours are running high following a brief military conflict that was triggered by the massacre of Hindu tourists in Pahalgam, Jammu and Kashmir. India blamed Islamabad for the terror attack and launched strikes on terror hideouts inside Pakistan and Pakistan-occupied Kashmir on May 7 under Operation Sindoo r.
Impact Shorts
More ShortsIndia is convinced that Pakistan has failed to act on terror emanating from its territory and has been diverting funds from multilateral agencies to buy arms and ammunition, which it deploys against India when its armed forces seek to neutralise terror hideouts.
India had earlier this month opposed the release of the tranche of the IMF’s bailout package to Pakistan.
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