Turkey has welcomed a decision by an international watchdog to remove it from a so-called “gray list” of countries that have not fully implemented measures to fight money laundering and terrorism financing. The decision, announced by the Financial Action Task Force in Singapore on Friday, could bolster foreign investments in Turkey. The Turkish finance minister wrote on social media: “We succeeded.” Being on the watchdog’s gray list can scare away investors and creditors, hurting exports, output and consumption. It also can make global banks wary of doing business with a country.
