By Fareeza Haniff
[www.inewsguyana.com] – Guyana has avoided international blacklisting by the Financial Action Task Force (FATF) and has until September 2015 to amend its Anti – Money Laundering and Countering the Financing of Terrorism (AMLCFT) Legislation.
This decision was made following a meeting in Paris, where Guyana was represented by Attorney General, Anil Nandlall.
Cabinet Secretary, Dr Roger Luncheon told a news conference today, Friday, October 24, that if Guyana was blacklisted by FATF, then President Donald Ramotar would have called general and regional elections.
“Who wants to be running a blacklisted economy?” Dr Luncheon asked.
In June, Guyana was subjected to a targeted review, which culminated to the meeting in Paris.
“I am pleased to announce that we have been advised, we have been informed that the results of those and other related objectives, the results are encouraging for Guyana in that it seems that essentially Guyana has staved off blacklisting and indeed has not been the subject of any decision by FATF of further blacklisting. Guyana we are informed has been provided with time to put its house in order and essentially to conclude its efforts to enact FATF – compliant Anti – Money Laundering legislation,” Dr Luncheon said.
Meanwhile, even though Guyana has been given more time to pass to get its house in order, the government and the combined Parliamentary Opposition are yet to reach a compromise which will see the successful passing of the Bill in the National Assembly.