FILE PHOTO: The Panama flag waves in the banking area of Panama City, April 4, 2016. REUTERS/Carlos Jasso/File Photo
(Reuters) - Panama expects international financial-crime watchdog FATF to remove it this October from a watch list for nations deemed to be doing too little to fight money laundering, the country's deputy finance minister said, adding that other intergovernmental groups might follow suit.
The Central American nation urgently needs to exit the watch lists so it can reclaim its place as a financial hub, Deputy Financial Minister Jorge Almengor said in an interview late on Wednesday. He added that due to Panama's presence on international watch lists, some foreign countries have been demanding stronger due diligence by their own companies in order to do business in Panama.
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