Hoti raises alarm: 2.5 billion euros of Trust left without management

According to Hoti, the lack of the Board could harm Trust investments by hundreds of millions of euros because in the absence of the Board, savings collected by the Trust during these months can be invested in financial markets and that if the value of financial instruments where the Trust tools are invested, no one can make changes to avoid it.

According to the law, only the Board decides for investment or withdrawal of invested means. If the value of financial instruments to which Trust tools are invested are down, as is happening in recent months, no one can make changes in the investment portfolio to avoid reducing the value of existing Trust” investments, Hoti wrote.

Hoti has said that the minister of finance, the general audience and the governor of the BQC, must account for that.

Those responsible by law, who are the minister of finance, the general audience and the governor of the CEC, must be accountable for that. I'm going to request an urgent meeting of the Parliamentary Board Commission to review this situation. The majority governing the country has rejected the Trust withdrawal bill. Now, with its negligence, it's damaging millions of euros to citizens”, Hoti wrote.

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