LABOUR PARTY DEPLORES INCLUSION OF ANTIGUA AND BARBUDA ON TERRORISM FIANCING BLACKLIST
St John’s, Antigua: 22 February… The Antigua and Barbuda Labour Party has roundly condemned the ruling United Progressive Party over the inclusion of Antigua and Barbuda in a list of countries that “pose a risk in the international system” for terrorism financing.
On February 18, in a public statement, the Paris-based Financial Action Task Force (FATF) identified Antigua and Barbuda as one of only two Caribbean countries with serious deficiencies in system to curb money laundering and counter terrorism financing.
Leader of the Opposition, Lester Bird, described the listing as “very worrying”. He said that any “blacklisting such as this will have a detrimental effect on Antigua and Barbuda’s banking industry, businesses and on simple transactions by ordinary people”.
Bird reminded that Antigua and Barbuda was never included in FATF blacklists or deficiency lists in 2000 and 2001 when the Labour Party held office, although five Caribbean countries were in the 2000 list and another Caribbean country was added to the 2001 list.
“The Labour Party government and its representatives worked diligently in advance of the issuance of the FATF lists in 2000 and 2001 to ensure that Antigua and Barbuda was in full compliance with required standards before the FATF identified delinquent jurisdictions”, Bird said.
“Indeed, we were promoted by the FATF as a model jurisdiction. Now, under the UPP, we are on a list with Nigeria, Sudan, Ukraine, and Myanmar”, Bird lamented.The Opposition leader continued: “The UPP government is either grossly negligent in its duty or it deliberately ignored the FATF requirements which were transmitted to the government months ago”.
“Whatever the reason”, Bird said, “Antigua and Barbuda will now be subject to punitive measures by correspondent banks in North America, Europe and elsewhere”.
Bird concluded: “This is yet another failure by the UPP regime which demonstrates every day its lack of capacity and competence to look after the nation’s interests satisfactorily.
On February 14, even before the FATF list was issued, Bird had said in a weekend radio broadcast that when the Labour Party returns to office, strengthening the regulation of the financial sector in cooperation with other CARICOM countries would be a priority of its work. (ends)
