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The paper presents a report on Austria's Observance of Standards and Codes for Financial Action Task Force Recommendations for Antimoney Laundering (AML)/Combating the Financing of Terrorism (AML/CFT). The Austrian authorities have designed and are implementing a comprehensive AML/CFT system, supported by well-developed federal administrative and supervisory bodies, and active professional organizations. The supervisory system for financial institutions is generally sound and efficient. Licensing requirements and the regime of sanctions need to be strengthened, and additional resources should

The Philippine Long Distance Telephone Company (PLDT), the principal voice carrier in the Philippines, has requested a loan of 24 million dollars from IFC to help finance the company's 1987 to 1989 development program. The program is: (a) to install a modern 10,000-line telephone switching system (Ortigas Exchange) to serve mid-eastern part of Metro-Manila; (b) to install, expand, and/or upgrade certain Metro-Manila, provincial, and rural exchanges; and (c) to install, repair, rehabilitate, reroute, and/or upgrade certain microwave, fiber optic cable, and copper cable links. (Econom. Voorlichtingsdienst)