Finance Minister Mehmet Simsek announces resignation not on the table following rumors

Türkiye’s Finance Minister Mehmet Simsek dismissed rumors suggesting he plans to resign and reaffirmed his commitment to ensuring market stability.

The speculation originated from statements by main opposition Republican People’s Party (CHP) leader Ozgur Ozel, who claimed Simsek was struggling to stay in office.

Responding via his social media account, Simsek assured, “We are fully committed to our duties. We will continue to take all necessary steps to ensure the healthy functioning of the markets. Please do not pay attention to unfounded news.”

Meanwhile, Türkiye’s Presidential Communications Directorate’s Center for Combating Disinformation stated that the claim “Mehmet Simsek wants to resign” is false.

A statement on the center’s social media account addressed the allegations on some platforms. The Center clarified that the claim is untrue, with the following statement:

“Finance Minister Mehmet Simsek has stated that he has not made any such statement. In order for the economic program to achieve its goals, all authorized persons and institutions continue their work without interruption. Do not rely on disinformative news aimed at creating unease and insecurity in the markets.”

Türkiye bans short selling in Istanbul Stock Exchange

The statement came amid new measures announced by the Capital Markets Board (CMB) to stabilize the Istanbul Stock Exchange following recent market fluctuations. Effective from March 24 to April 25, these measures include:

• A ban on short selling in equity markets,
• Easing regulations on share buybacks for publicly traded companies,
• Flexibility in equity ratio requirements for margin trading.

The CMB emphasized its focus on safeguarding investor rights and maintaining market integrity during volatile conditions.