Priyanka Tiwari
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Suspense crime, Digital Desk : Pakistan is facing the significant threat of being placed back on the Financial Action Task Force's (FATF) "grey list" after a new report from the global watchdog flagged the country for serious deficiencies in curbing the financing of its ballistic missile program. This development has provided India with powerful evidence to push for renewed international scrutiny of its neighbor at the upcoming FATF plenary.
The core of the issue lies in a recently released Mutual Evaluation Report (MER) by the FATF, which gave Pakistan a "low" rating for its understanding and implementation of measures against "proliferation financing" (PF). Proliferation financing refers to the funding of weapons of mass destruction (WMDs), and the report specifically points to Pakistan's failure to comply with United Nations Security Council resolutions concerning its missile program.
This finding is a major blow to Pakistan, which was removed from the grey list in October 2022 after a four-year period of intense monitoring. A return to the list would be a severe economic and diplomatic setback, subjecting the nation to increased oversight from global financial institutions like the IMF and World Bank, and potentially deterring foreign investment.
Armed with this official FATF assessment, India is expected to lead a diplomatic push at the next FATF plenary session in Singapore. New Delhi will argue that the report provides clear, undeniable proof of Pakistan's non-compliance with international obligations, warranting its immediate re-listing.
In the past, Pakistan has often relied on the support of allies like China and Turkey to avoid stricter FATF measures. However, a damning report based on on-ground evaluations and focused on the highly sensitive issue of WMD proliferation may make it harder for its traditional partners to defend its case. The international community will be watching the Singapore meeting closely to see if Pakistan is once again placed under the global financial microscope.
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