Turkish financial markets were shaken after arresting the Istanbul opposition opposition. The authorities are forced to intervene.
Turkish authorities have taken urgent measures to strengthen the financial situation following the restraint of the Istanbul Ekrem Imamoglu mayor, one of the country’s major politicians of the country’s opposition. On Monday, March 24, the Interfax-Ukraine reported.
Imamoglu was confined on March 19 as part of an anti -corruption investigation. This is seen as the main competitor of the current government in the President’s election of 2027.
The news of the arrest has pushed a wave of protests nationwide, where more than 1000 people were detained.
Against the rear of political unevenness, the Turkish Lyre continued to decline – on Monday he lost 0.5% in connection with the dollar, and last week it reduced by 3.1%. The Borsa Istanbul 100 stock index last week fell 17%, but on Monday the positions were slightly restored, growing 2.8%.
To maintain Lyra’s course, the central bank of Turkey immediately raised the rate overnight loan to 46%.
In addition, for the first time for nearly 20 years, an auction will be held for the placement of 91 days of bills. The Central Bank also organized a technical meeting with the banks representatives, which warned the possible increase in volatility.
Among the additional steps is a reduction in lizards deposits, expanding the ban on short sales and avoiding terms of the redemption of the shares of shares.
The regulator also reduced the marginal requirements, trying to suspend the fall in the stock market.
It should be noted that the Turkish office of prosecutor has accused the mayor of Istanbul Ekrem Imamoglu of alleged corruption, fraud under the aggravating events, extortions and falsification of tenders. The Turkey’s Ministry of Internal Interior announced on Sunday that the mayor of Istanbul Euh Imamoglu was removed from his duties after the Turkish court officially arrested him on bribe charges. Two other mayors of the districts were also removed – Baylikdyusu and Schoolsha.
It is expected that the Municipal Council of Istanbul in the coming days will select the acting mayor after the removal of Imamoglu.
In Turkey, from 19 to March 23, 1133 participants in protests that exploded in the country were confined to the back of the opposition of the Imbul Ekrem Imamoglu opposition opposition.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.