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Not meeting the obligations of the Financial Action Task Force (FATF) would have a devastating impact on Pakistan’s economic reform program, a top US diplomat said.

Acting Assistant Secretary of State for South and Central Asia Alice Wells made the comments on Friday, a day after Pakistan Foreign Minister Shah Mahmood Qureshi said the country should be taken off the FATF’s ‘grey list’ as it has made considerable progress on the requirements of the international terror financing watchdog.

“Obviously, if Pakistan were not to meet FATF obligations or were to fail and be blacklisted, that would be devastating for Pakistan’s economic reform program and for its ability to attract investors,” Wells told reporters here.