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

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

Riot police officers use pepper spray to clear a protester during a protest after Istanbul’s Mayor Ekrem Imamoglu was arrested and sent to prison, in Istanbul, Turkey, March 23, 2025. File Image/AP