Pakistan Out of the FATF’s Grey List

Current Context: Pakistan was removed from the Grey List of the Financial Action Task Force (FATF).

• The FATF removed Pakistan from its Grey List after the institution was satisfied with its efforts in improving its Anti-Money Laundering and Combating Financial Terrorism (AML/CFT) regime.
• After failing to curb terror financing and money laundering, Pakistan was kept on the Grey List by the FATF in 2018.
• After Pakistan’s removal from the list, it will be relatively easy for the South-Asian nation to receive grants and aid from international organizations viz. the World Bank, the IMF, the ADB, etc.
• Along with Pakistan, the Central American nation, Nicaragua was also removed from the FATF’s Grey List while Myanmar was added to the FATF’S Black List.
• FATF is an intergovernmental institution that was established in 1989 with its headquarters in Paris, France. The current President of the FATF is T Raja Kumar.

Question:

Q.1 Which of the following countries was recently removed from the FATF’s Grey List?

1. Pakistan
2. Nicaragua
3. Myanmar

a. I Only
b. II Only
c. I, II Only
d. I. II, III