Senegal has been Removed from the Global “Dirty Money” Grey List

The Financial Action Task Force (FATF) took Senegal off the list after the country strengthened its measures to combat money laundering and terrorism financing, including implementing targeted financial sanctions and adopting a new bill against illicit financing. Senegal’s eurobonds were among the worst emerging market performers this month after the IMF flagged issues with underreported financial data impacting its $1.5 billion program, and S&P Global revised the country’s credit outlook to negative. Since Senegal’s 2021 gray-listing, its government has tightened regulations, with penalties now in place for non-compliant financial institutions.

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