Mozambique participated in the 45th meeting of experts from the Southern and Eastern African Capital Bracking Group (ESAAMLG), held March 26 to 31, 2023.
Among other points on the agenda, Mozambique has registered remarkable progress aiming at its exit from the gray list, having positively reclassified 10 recommendations submitted for reevaluation to ESAAMLG, according to a source close to the matter.
The country was placed on the gray list of that body on October 21, 2022, for a period of observation from 2022 to 2024 by ICRG – an entity that brings together experts to supervise the progress of countries in matters related to money laundering and terrorism financing, and in this context of the process, Mozambique is required to account for a fixed plan.
On April 7, the ICRG sent its preliminary evaluation of Mozambique’s performance since the country was placed under the observation of The Financial Action Task Force (FATF). The United States, the European Union, and the World Bank are supporting Mozambique in its efforts so that over the next two years, the country leave the FATF’s “Gray List”.