President Ferdinand Marcos Jr. yesterday affirmed the country’s commitment to accountability, justice and peace, noting the Philippines’ exit from the Financial Action Task Force (FATF) Grey List as a significant development.
The President, during the 33rd Anti-Terrorism Council (ATC) meeting and year-end celebration held in Malacañang, said the country’s exit from the FATF grey list is a “great deal” even if it has not been spoken publicly.
“Another noteworthy achievement is our progress toward exiting from the Financial Action Task Force or FATF Grey List. This is a very, very important item…as an obstacle to the continuing transformation of our economy, to the continuing transformation of our place in the world, this, us exiting from the Grey List is a significant move,” Marcos said.
He said this milestone will benefit millions of Filipinos, from smoother remittances for overseas workers to increased investor confidence that bolsters the economy.
The FATF, in its plenary session in October, recognized the Philippines’ successful efforts to address 18 deficiencies that could lead to the country exiting the grey list by 2025.
An on-site assessment would be done to confirm the sustainability of the reforms adopted by the Philippines.
The Philippines has been on the FATF grey list since June 2021, placing it under the global watchdog’s increased monitoring for the anti-money laundering and counter-financing of terrorism activities.
The President recognized that terrorism is a global challenge, saying the Philippines has stepped up as a reliable and proactive partner in the fight against it.
Marcos said the country has strengthened ties with international allies such as the United Nations and other regional organizations, and elevated its capabilities to address transnational threats.
The Philippines has shown that it is both a beneficiary and a contributor to global security, while embodying the Filipino values of solidarity and shared responsibility for a peaceful world, he added.
He noted various milestones achieved by the government, led by the ATC, in dismantling threats to fortify the nation’s security.
“By disrupting terrorist organizations and limiting their resources, we have sent an unequivocal message: the safety of our people is our topmost priority.
And it will always remain so. The freezing of assets linked to terrorism, coupled with successful prosecutions, underscores our nation’s determination to uphold the rule of law. These measures not only safeguard our own communities but also affirm our commitment to accountability, justice, and peace,” he added.
The President also affirmed his administration’s continued support to the ATC and its mission, which he said extends beyond neutralizing terrorist threats but also preventing them from happening.
By implementing programs that prevent and counter violent extremism, the roots of radicalization are addressed and trust is developed within the communities, he added.
“When we empower local leaders and engage the youth, and provide avenues for dialogue, we are building a safer, more united Philippines. These efforts plant the seeds of hope, the seeds of resilience, ensuring that every Filipino can enjoy and benefit from the fruits of peace,” he added.
