Imamoglu's arrest triggers emergency market measures as Turkey stocks plunge

Protests against Imamoglu's arrest are pinching Turkey's economy hard

The backlash from protests has rattled markets. The value of the Turkish lira has depreciated against the US dollar. Sovereign bond rates have fallen, and foreign investors are spooked. The Turkish stock market has seen one of its worst days in recent years

Imamoglu's arrest triggers emergency market measures as Turkey stocks plunge

The Turkish lira and equities have fallen sharply since the arrest last week of Istanbul Mayor Ekrem Imamoglu — a key rival to President Recep Tayyip Erdogan — on corruption charges, which he denies.

It is a déjà-vu with a system: as soon as the Turkish economy gains confidence, President Erdogan is responsible for the next setback. This time with the arrest of his strongest opponent.

The collapse of the lyre, the stock market, the price instability, the increase in credit... all that Recep Tayyip Erdogan's re-election in 2023 has tried to...

What's Erdogan's end game with Imamoglu's arrest?

Erdogan’s team is likely betting that public outrage over Imamoglu’s arrest will eventually fade and the economy will recover before the country next goes to the polls