Opinion | After the flood, the grey list is now a national emergency
Summary
Nepal’s Bhotekoshi flood recovery is colliding with renewed pressure over its FATF grey-list status, as watchdogs say progress against money laundering and illicit finance remains weak. The opinion warns that poor enforcement could jeopardize donor confidence, remittance flows and reconstruction funding.
Key Points
- APG’s assessment says Nepal has made weak progress on key FATF grey-list reforms, especially on cooperatives, casinos, real estate and illicit-asset recovery.
- The flood reconstruction drive may face higher risks because donors, lenders and investors will demand proof that funds can be tracked and corruption punished.
- The piece warns that failure to improve could hurt remittances, investor confidence and even raise the risk of blacklisting.
- The author urges the prime minister to lead the reforms personally, strengthen prosecutions, fast-track trials and improve reporting and confiscation of illegal assets.
