Pakistan gets 4-month to avoid FATF blacklist.

• Position: Financial Action Task Force

The Financial Action Task Force (FATF) announced on Friday that it was retaining Pakistan on its grey list for four more months after which Islamabad might face action including being blacklisted if it failed to make any significant progress on the inter-governmental body's 27-point action plan.

"Pakistan needs to do more and it needs to do it faster. Pakistan's failure to fulfil FATF's global standards is an issue that we take very seriously," FATF President Xiangmin Liu said while addressing a news conference in Paris.

"The FATF is giving a very clear warning [that] if by February 2020 the country has not made significant progress, we would consider further actions, which potentially include placing the country on the Public Statement, also referred to as the blacklist," he added.

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