Following the decline in Borsa Istanbul (BIST), the committee, chaired by Treasury and Finance Minister Mehmet Şimşek, said the issue stemmed from credit and liquidity strains in certain funds of a limited number of portfolio management companies, and that it was temporary and manageable.
At the meeting, it was determined that the volatility stemmed from credit and liquidity issues in the funds of a limited number of portfolio management companies. The committee said necessary steps would be implemented swiftly to ease the liquidity squeeze and prevent contagion risk. It was stressed that market-disruptive actions would not be tolerated.
