Erdogan: Fund Crisis Poses No Threat to Turkish Financial System

Turkish President Tayyip Erdogan has said that a recent crisis involving investment funds does not pose a threat to the country's financial system or its wider economy, and that steps will be taken to prevent it from happening again.

Speaking to a group of Turkish journalists in New York, Erdogan described the episode as limited in scope. "We are talking about a problem that emerged in a limited area of the capital markets, in a certain number of funds," he said, according to a text of his remarks released by his office on Thursday. "There is no risk to either our financial system or the Turkish economy."

The president added that the authorities would introduce measures aimed at preventing a recurrence of the problem. He did not specify what those measures would involve.

Erdogan's comments were shared by his office after the meeting with Turkish reporters during his visit to New York. The remarks sought to reassure that the difficulties were confined to a narrow segment of the capital markets rather than reflecting broader strain on the financial system.