Statement from Minister Şimşek: Troubled Funds Quarantined
Treasury and Finance Minister Mehmet Şimşek announced that troubled companies and funds have been placed in quarantine and liquidation processes have been initiated in order to prevent the spread of risks in the fund markets.
Speaking at the S&P Global Global Emerging Markets Conference, Treasury and Finance Minister Mehmet Şimşek announced that funds related to troubled portfolio management companies have been quarantined and liquidation processes have been initiated.
Measures Taken in Fund Markets
Treasury and Finance Minister Mehmet Şimşek stated that rapid action was taken in response to developments in the fund markets. It was announced that funds related to troubled portfolio management companies have been placed in quarantine.
The process of liquidation and resolution of the funds in question has been officially launched, and it was emphasized that the primary goal is to stop risks from spreading to the rest of the system.
Economic Growth and Capital Markets
In the assessments made, it was clearly stated that recent developments in the fund markets have had a limited impact and that there is no systemic problem.
Minister Şimşek stated that they expect the Turkish economy to grow by around 3 percent this year and noted that efforts to deepen capital markets will continue with determination.