The arrest of Istanbul Mayor Imomoglu: Turkey is on the brink of a political crisis

On March 19, Turkish police arrested Istanbul Mayor Ekrem İmamoğlu, a member of the opposition Republican People's Party (CHP). About 100 city administration employees and a press secretary were also detained, CNN Turk reported.

Reasons for arrest and corruption charges

According to local media, İmamoğlu is accused of violating the constitutional order, forming a criminal organization and aiding the Kurdistan Workers' Party. The Associated Press reported that he was arrested in a corruption case related to tenders and contracts.

Security measures tightened in Istanbul

Several roads in the city were closed after Imamoğlu's arrest, and all demonstrations were banned for four days. According to the monitoring service NetBlocks, access to social networks such as X (formerly Twitter), YouTube, Instagram and TikTok was also restricted in Turkey.

Economic impact: lira exchange rate and stock market decline

Against this backdrop, the Turkish lira exchange rate fell to a record low. At 12:42 Tashkent time, the lira exchange rate fell to 40.95 liras per dollar, which was the lowest level in history. Later, at 13:10, the currency rose slightly, reaching 38.91 liras.

The Borsa Istanbul 100 stock index fell by 6.9 percent at the start of the session, causing trading to be temporarily suspended. After it recovered, the index fell by 4.6 percent. Turkey's 10-year government bond yield also jumped 175 basis points to 29.94 percent, its highest level in 2025.

Imamoğlu's diploma revoked

On March 18, Istanbul University announced that it had revoked Imamoğlu's 1995 diploma at the request of the prosecutor's office. The university cited irregularities as the reason for the decision. This is being seen as a political obstacle to the opposition politician's participation in the presidential elections, as higher education is a mandatory requirement for being nominated as a presidential candidate in Turkey.

Imamoğlu: "I will stand firm in the fight for rights and freedoms!"

After the news of the politician's arrest, the following message appeared on his social media page: "The will of the people cannot be suppressed by intimidation or illegal actions. I stand firm, believing not only in the 16 million inhabitants of Istanbul, but also in the 86 million citizens of Turkey and all those who support democracy and justice around the world. I will stand firm in the fight for fundamental rights and freedoms!"

Political problems and pressure on the opposition

The Republican People's Party was to hold a congress on March 23 to discuss plans to nominate Imamoglu as a candidate in the next presidential election. The next presidential election in Turkey is scheduled for 2028, but early elections are not out of the question.

In 2024, Turkey held municipal elections, in which opposition candidates defeated representatives of Erdogan's Justice and Development Party in Ankara and Istanbul. This was the first time in 20 years that the Justice and Development Party had such a poor showing in local elections.

Will a political crisis begin in Turkey?

Imamoglu's arrest and revocation of his diploma are being seen as pressure on the opposition. His arrest could increase domestic political tensions in Turkey, and the international community could view this as interference in democratic processes. Major changes are expected in Turkey's political life. Follow “Zamin” news on “Telegram”