We commend the Fund/Bank staff on the overall success of the pilot program and also welcome the participation by the Financial Action Task Force (FATF) and the FATF Style Regional Bodies (FSRB) in the pilot progrm. The primary objective of the Pilot program has been achieved through the deepening of international attention to Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) issues.
However, on AML/CFT issues, the Fund should remain within its mandate as laid out in its Articles of Agreement, without getting involved in law enforcement or non-macroeconomic issues. Proliferation of areas beyond its core competence may dilute the Fund’s efficiency in its core area of functioning.