Türkiye’s Economic Coordination Board (EKK) said on Oct. 19 it expected interim payments to investors in troubled investment funds to begin promptly after legislation governing their liquidation becomes law.
The statement followed a meeting chaired by Vice President Cevdet Yılmaz at the presidential complex in Ankara.
“We expect interim payments to begin as soon as possible after the bill is debated in Parliament’s General Assembly and becomes law,” the board said.
The bill, approved by the Plan and Budget Commission on Oct. 14, aims to ensure fair and transparent liquidation procedures with legal safeguards.
It would allow interim payments of up to 1 million Turkish Liras to eligible investors, based on their net investments and available fund resources.
Payments would be deducted from their final entitlements.
The board said it expected the fund problems to have a limited impact on the financial system and the wider economy, citing strong macroeconomic fundamentals and the government’s policies.
Measures being taken were intended to improve the reliability and efficiency of capital markets and make them more resilient, it said.
The board also warned that war-related supply shocks and disruptions to supply chains were weighing on the global economic outlook.
It said Türkiye’s economic program had helped achieve more balanced growth, lower inflation and unemployment, stronger financial stability and fiscal discipline.
Education and employment policies were another focus of the meeting.
The board said strengthening the link between education and employment remained a priority, with policies to address changing skills requirements driven by technological, environmental and demographic shifts.
It pledged to increase the supply of skilled workers in areas of need and encourage employment among groups facing barriers to participation, particularly young people and women.
Officials also reviewed revisions to balance-of-payments statistics and their impact on the net errors and omissions item.
