Erdogan Deploys VP to Liquidate Frozen Investment Funds

📡 Bloomberg Markets 4h ago · 1 min read ·

Part of composite article Turkey Freezes Billions in Trapped Funds as Stocks Plunge Into Bear Market View full article →

Turkey has created a new board to manage the closure of investment funds holding illiquid stocks, President Recep Tayyip Erdogan announced. The board will oversee the liquidation process. Erdogan assigned Vice President Cevdet Yilmaz to lead the effort, according to the working title. The move follows a crisis involving funds trapped by hard-to-sell assets.