Liquidation Plan and Payment Details Awaited in $20 Billion Fund Crisis

While a clear plan has not yet emerged in the liquidation process of 131 funds with a total size of $20 billion that began on September 17, the economic bill of the crisis is getting heavier by the day, and the loss in foreign exchange reserves has reached $13 billion.

Uncertainties in the Liquidation Process

In the fund crisis that broke out two weeks ago, a clear solution method has not yet been put forward, and the bill created by the crisis continues to increase day by day.

Although weeks have passed since the decision to liquidate 131 funds with a size of approximately $20 billion, a detailed plan has still not been announced.

Advance Payment Statement and Market Impact

The fund coordination board, which met last week, announced that an advance payment of up to 1 million TL will be made for accounts in each fund, and this decision created satisfaction in the market.

Although it is thought that citizens with small amounts of money will be partially relieved by this means, the lack of clarity on the details of the application leads to various confusions.

Free Funds and Payment Calculation Problems

While investors in money market funds can receive an amount close to their receivables, it is unknown whether the same payment will be made for high-risk free funds.

While declines in stock prices push fund values down every day, the value over which the payments will be calculated has not yet been announced.

Public Burden and Financing Discussions

Since it is not known where the values will drop in these accounts where approximately 455 thousand people have their money, it remains uncertain how much additional resources will be needed for advance payments.

It is stated that a new legal regulation may be required for payments to be made from public resources to fund accounts that are not under state guarantee.