MANILA (Bloomberg): The Philippine government welcomed the country’s removal from a global watchdog’s dirty-money list, which could spur remittances and foreign investments in one of Asia’s fastest-growing economies.
The Financial Action Task Force’s decision to take Manila off the list is expected to "facilitate faster and lower-cost cross-border transactions, reduce compliance barriers and enhance financial transparency,” the Philippines’ Anti-Money Laundering Council said in a statement on Saturday.
