Turkey moves to calm nervous markets after fund crisis sparks selloff

Finance minister says $18.3bn in fund liquidations pose 'no widespread systemic risk' Turkish Finance Minister Mehmet Simsek seeks to reassure financial markets after a fund scandal triggered a market selloff earlier this week. © Reuters ISTANBUL (Reuters) — Turkey's liquidation of investment funds worth $18.3 billion will not put pressure on Borsa Istanbul, as regulatory changes should prevent any contagion risk, Finance Minister Mehmet Simsek said, adding authorities would monitor the market closely.

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