Global watchdog decides to put Pakistan back on terrorist financing watchlist

February 23, 2018 18:24

A global money-laundering watchdog has decided to place Pakistan back on its terrorist financing watchlist, a government official and a diplomat said, in a likely blow to Pakistan's economy and its strained relations with the United States.

The move is part of a broader US strategy to pressure Pakistan to cut alleged links to Islamist terrorists unleashing chaos in neighbouring Afghanistan and backing attacks in India.

It comes days after reports that Pakistan had been given a three-month reprieve before being placed on the list, which could hamper banking and hurt foreign investment.

The United States has spent the past week lobbying member countries of the Financial Action Task Force to place Pakistan on a so-called grey list of nations that are not doing enough to combat terrorism financing.

Pakistan had launched last-minute efforts to avoid being placed on the list, such as taking over charities linked to a powerful Islamist figure.

But the campaign proved insufficient and the group decided late on Thursday that Pakistan would be put back on the watchlist, said a senior Pakistani official and a diplomat with knowledge of the latest FATF discussions.

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