The Philippine government welcomed the country removing the global dirty funds list, which can stimulate foreign transfers and investments in one of the fastest growing Asian economies.
It is expected that “it is expected that” the Philippine Council in the field of cross -border transactions facilitate that the decision of the Financial Labor Squad (FATF) to remove Manila from the list. Saturday statement.
Panco Senkal Nug Bilibinas Eli Rimulona, who heads the council, said that the FATF movement “complements our ongoing efforts to make the financial system a stronger driver for sustainable growth.”
The Paris -based control authority said on Friday that the country of Southeast Asia is no longer included in the list of monitored countries after pushing the government to intensify efforts to counter money laundering and terrorist financing.
Development should make the easiest and cheapest for the Filipinos working abroad to send money to the home – a major engine for local consumption – and may enhance investments in a country where monthly flows decreased by 20 percent from last year in November.
The Philippines was the only country to be removed from the list, while Laos and Nepal were added. The potential support of Manila comes at a time of global uncertainty arising from US policies during President Donald Trump and the country’s tensions with Beijing in the South China Sea.
