US envoy calls on Finance Minister Pun

US Ambassador to Nepal Peter W. Bodde called on Finance Minister Barsha Man Pun at his office in Singha Durbar on Tuesday morning.

During the meeting, the ambassador is learnt to have expressed concerns over Nepal's failure to pass a crucial ordinance to fight money laundering.

The minister is learnt to have told Bodde that the government will soon forge political consensus on the issue and the ordinance, which has been shelved by the President, will be passed.

Nepal risks being black-listed by the international Financial Action Task Force if it does not pass the ordinance ahead of the FATF meeting, slated for next month.

Nepal has been reporting to the task force that political instability has affected the process to amend related laws as demanded by the FATF.

If Nepal really is black-listed by FATF, the country's economic and trade relations with other countries will be adversely affected as foreign banks and other business institutions will not be willing to do any sort of financial transaction with the country. nepalnews.com