Mehmet Şimşek : Turkish capital controls out of the question: Deputy PM Şimşek

Turkish capital controls “are out of the question,” the country’s deputy prime minister has said.       

“I have two simple messages to speculators: Turkey to maintain sound macroeconomic policies,” Mehmet Şimşek tweeted late July 19, adding: “Capital controls are out of the question.”        

A country can use capital controls to order its banks to impose strict limits on daily withdrawals and foreign country transfers of cash.        

“[Turkey’s] banking sector is well capitalized and has strong asset quality,” Şimşek also tweeted.     

“Our country’s macroeconomic fundamentals remain solid. We are taking all the necessary measures,” Şimşek said on July 17.      



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