WILL AFGHANISTAN BE FINANCIALLY BLACKLISTED?

“Afghanistan is on the verge of being blacklisted internationally for its failure to pass an anti-money-laundering law. For the past three years, the Financial Action Task Force (F.A.T.F.), an intergovernmental body that helps to combat money laundering and the financing of terrorism, has been pushing the country to adopt a law that meets global standards, and had finally warned Afghanistan that it will take action at its next plenary session, which begins on June 23rd, effectively setting a deadline. But the country’s government has left it to the last minute, and—with the final round of the Presidential election set for Saturday—it now seems all but impossible that parliament will pass the bill in time. Inclusion on the blacklist—technically known as the “high-risk and non-cooperative jurisdictions” list—would make it more difficult for international companies and financial institutions to do business with Afghanistan without legal risk to themselves. Afghanistan would join Syria and Myanmar, among others, on the list. Blacklisting would add to a growing consensus that the country’s greatest potential threat is not from the Taliban but from an economic and financial collapse sparked by a fall in foreign spending and the government’s extreme dysfunction and corruption…”

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by | June 13, 2014 · 4:15 pm

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