The arrest of Istanbul Mayor Imamoğlu: Turkey on the brink of a political crisis
On March 19, Turkish police arrested Istanbul mayor and opposition Republican People's Party (CHP) representative Ekrem İmamogʻlu. Nearly 100 city administration employees and the press secretary were also detained. This was reported by CNN Turk.
Reasons for the arrest and corruption allegations
According to local media, İmamogʻlu is accused of attacking the constitutional order, forming a criminal organization, and aiding the "Kurdistan Workers' Party." The Associated Press noted that he was arrested in connection with a corruption case related to tenders and contracts.
Security measures intensified in Istanbul
Following İmamogʻlu's arrest, several roads in the city were closed, and any demonstrations were banned for four days. Additionally, according to NetBlocks monitoring service, access to social networks such as X (formerly Twitter), YouTube, Instagram, and TikTok has been restricted in Turkey.
Economic impact: lira exchange rate and stock market decline
In the wake of this event, the Turkish lira's exchange rate plummeted to a record low. At 12:42 Tashkent time, the lira fell to 40.95 lira per dollar, the lowest level in history. Later, at 13:10, the currency slightly recovered to 38.91 lira.
The Borsa Istanbul 100 index dropped by 6.9 percent at the beginning of the session, leading to a temporary halt in trading. After trading resumed, the index fell by 4.6 percent. Additionally, the yield on Turkey's 10-year government bonds rose by 175 basis points to 29.94 percent, the highest level in 2025.
İmamogʻlu's diploma revoked
On March 18, Istanbul University announced that İmamogʻlu's diploma, obtained in 1995, was revoked at the request of the prosecutor's office. The university explained its decision as being due to violations. This is seen as a political obstacle aimed at preventing the opposition politician from participating in presidential elections, as having a higher education is a mandatory requirement for being nominated for the presidency in Turkey.
İmamogʻlu: "I will stand firm in the struggle for rights and freedoms!”
After news of the politician's arrest, a message appeared on his social media page: "The will of the people cannot be intimidated or stifled by illegal actions. I stand firm not only for the 16 million residents of Istanbul but also for the 86 million citizens of Turkey and everyone around the world who supports democracy and justice. I will stand firm in the struggle for fundamental rights and freedoms!”
Political issues and pressure on the opposition
The Republican People's Party was planning to hold a congress on March 23 to discuss announcing İmamogʻlu as a candidate for the upcoming presidential elections. The next presidential elections in Turkey are scheduled for 2028, but early elections are also a possibility.
Municipal elections were held in Turkey in 2024, where opposition candidates defeated representatives of Erdogʻan's Justice and Development Party in Ankara and Istanbul. The Justice and Development Party recorded its worst results in local elections in 20 years.
Will a political crisis begin in Turkey?
İmamogʻlu's arrest and the revocation of his diploma are seen as pressure against the opposition. His detention could escalate internal political tensions in Turkey, and the international community may view this situation as interference in democratic processes. Significant changes are expected in Turkey's political landscape.
