Global Watchdog Removes Senegal From Dirty Money ‘Gray List’ (1)

Senegal has been removed from a global dirty-money list after three years, a move likely to boost investor confidence after a spate of negative news led to a selloff of its eurobonds this month.

The Paris-based Financial Action Task Force on Friday removed the West African nation from its so-called gray list for increased monitoring after it fortified its mechanisms for tackling money laundering and terrorist financing, Senegal’s Finance Ministry said. Bloomberg last week reported that FATF was poised to remove the nation from its list.

The move should assure investors of “a safer, more stable” financial system, the ministry ...