Governor SBP briefs PM Khan on outcome of APG meetings

ISLAMABAD: Governor State Bank of Pakistan (SBP) Reza Baqir called on Prime Minister Imran Khan and gave a briefing on the outcome of the Asia Pacific Group (APG) meetings in Canberra.

Reza Baqir specifically mentioned how Pakistan successfully avoided any downgrades in individual ratings in the APG’s Mutual Evaluation Report.

Asia Pacific Group on Money Laundering has placed Pakistan on its enhanced monitoring list after Islamabad’s performance was found unsatisfactory on three-fourth of the Financial Action Task Force’s (FATF) recommendations.

In its Mutual Evaluation Report, the FATF style regional body observed that the effectiveness of Pakistan’s Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) regimes were of low level.

The APG prepared the Mutual Evaluation Report after two visits to Pakistan during which they exchanged at least four technical annexures with Islamabad – the body provided government ample opportunities to improve the situation.

Governor SBP also briefed the PM on the continued improvement in the current account and more generally the positive response to the reform policies.

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