Joint Press Release – IMF Joins the United Nations Global Counter-Terrorism Coordination Compact

IMF News, May 23, 2023

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Joint Press Release – IMF Joins the United Nations Global Counter-Terrorism Coordination Compact

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Bibliographic details

• Published: May 23, 2023

Event and membership

• Date: May 23, 2023
• Press Release No.: 23/174
• The IMF joined the United Nations Global Counter-Terrorism Coordination Compact at a High-Level event on “Enhancing global cooperation on countering the financing of terrorism.”
• The IMF joined in an observer capacity at the staff level as the 46th entity of the Global Counter-Terrorism Coordination Compact.
• Principals from the United Nations Office for Counter-Terrorism (UNOCT), the Counter-Terrorism Committee Executive Directorate (CTED) and the United Nations Office on Drugs and Crime (UNODC) attended the event virtually and welcomed the IMF.

Key statements from officials

• Vladimir Voronkov, Under-Secretary-General for Counter-Terrorism and Chair of the Global Counter-Terrorism Coordination Compact:
  • “The International Monetary Fund is in a position to contribute significant expertise to the Compact’s efforts to address illicit financial flows derived from terrorism and other forms of criminality.”
• Bo Li, Deputy Managing Director of the IMF:
  • “Fighting terrorism and terrorism financing is a complex, multifaceted endeavor that requires effective cooperation across a broad range of institutions coupled with robust national frameworks that deny terrorists access to financial systems and hinder their ability to collect resources, plan, and carry out terrorist acts.”
  • He underlined that “The IMF will be making full use of the United Nations Global Compact which will be an integral part of its Combating the Financing of Terrorism (CFT) strategy.”
• Ghada Waly, Executive Director of UNODC:
  • UNODC has “been advocating and supporting a joint response to the growing threat of terrorist financing,” which has “become more sophisticated and transnational in nature.”
  • “UNODC looks forward to joining our partners in putting the new tool into practice, supporting those working on the front lines to stop terrorists from acquiring funds.”
• Natalia Gherman, Executive Director (CTED) and Working Group Vice-Chair:
  • Welcomed the IMF as a new member and emphasized CTED’s commitment to monitoring terrorist financing threats and facilitating timely technical assistance.
  • Noted that “close cooperation and coordination between our various entities is crucial, and the Global Compact provides a unique platform for us all. The IMF is one of the key providers of technical assistance and training to Governments, including in the area of CFT, and is an important partner when it comes to policy development and risk analysis.”

IMF contributions, publication, and CFT strategy

• The IMF presented its latest publication “Countering the Terrorism Financing: Good Practices to Enhance Effectiveness.”
  • Purpose: To assist anti-money laundering and combating terrorism financing (AML/CFT) policymakers and practitioners in identifying key challenges and good practices for strengthening the effectiveness of counter terrorism financing frameworks.
• The IMF will incorporate the United Nations Global Compact as an integral part of its Combating the Financing of Terrorism (CFT) strategy.
• The IMF joined the Counter-Terrorism Compact inter-agency Working Group on Criminal Justice, Legal Responses and Countering the Financing of Terrorism (CJLR-CFT) due to its expertise.

Expert-Level Panel Discussion: trends, challenges, and coordination

• Participants: UNOCT, IMF, CTED, UNODC, the 1267 Monitoring Team, the World Bank and the Egmont Group of Financial Intelligence Units.
• Focus:
  • Current trends in terrorism financing.
  • Remaining challenges and gaps in responding to the threat.
  • Potential areas for further enhancing joint coordination.
• Outcome: Provided valuable insights on ways to further enhance international cooperation on countering the financing of terrorism.

Background on the Global Counter-Terrorism Coordination Compact

• Launched by the Secretary-General in December 2018.
• Role: Primary institutional vehicle for coherent and coordinated support to Member States in their implementation of the United Nations Global Counter-Terrorism Strategy.
• Secretariat: The United Nations Office of Counter-Terrorism.

Contacts

• IMF Contacts:
  • MEDIA RELATIONS — PRESS OFFICER: Pavis Devahasadin
  • Phone: +1 202 623-7100
  • Email: MEDIA@IMF.org
  • Additional IMF contact listed: Pavis Devahasadin, pdevahasadin@IMF.org
• UNOTC Contact:
  • Laurence Gerard, gerardl@un.org
• Social media: @IMFSpokesperson

Source: Joint Press Release – IMF Joins the United Nations Global Counter-Terrorism Coordination Compact (May 23, 2023).

References

• United States and the IMF
• Press Releases
• PRESS CENTER
• [latest publication “Countering the Terrorism Financing: Good Practices

to Enhance Effectiveness”](https://www.imf.org/en/Publications/Books/Issues/2023/05/12/Countering-the-Financing-of-Terrorism-Good-Practices-to-Enhance-Effectiveness-515493)

• https://www.imf.org/en/home