Statement on the Fund Market from Minister Şimşek: No Widespread Risk

Minister of Treasury and Finance Mehmet Şimşek stated in his remarks regarding developments in the markets and certain funds that there is no widespread systemic risk and that problematic areas have been placed under quarantine.

Scope of Issues in Funds

It was explained that the difficulties experienced in the markets stem from credit and liquidity problems in a limited number of funds. It was emphasized that this situation, which covers a very small portion of total funds in Turkey, does not carry a widespread risk.

Inter-Institutional Coordination

It was stated that the Central Bank will provide liquidity, the Banking Regulation and Supervision Agency has issued a regulation regarding banks purchasing their own shares, and the Capital Markets Board has announced the liquidation process.

Legal Processes and Investigations

It was noted that investigations against those involved in market-disrupting transactions are ongoing within the framework of the legal process carried out in coordination with the Ministry of Justice, but that no actions will be taken against individuals and companies unrelated to these activities.

Protection of Investor Rights

It was conveyed that necessary work and steps are being resolutely pursued to make payments to investors in the shortest possible time and at the highest possible level.

Status of Economic Indicators

Stating that the fundamentals of the economy are resilient, it was expressed that key indicators such as the current account deficit, external debt, budget deficit, and public debt are at sustainable levels.