Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- Turkish President Recep Tayyip Erdogan has reiterated his commitment to the pro-investor economic policies that he adopted in 2023. He has attributed the recent market instability to the actions of the opposition, following the arrest of his main political opponent.
Erdogan assured, during a televised speech after a cabinet meeting on Monday, that the economic gains achieved over the past two years will be preserved. He stated, "Our institutions have both the authority and the will to ensure healthy market mechanisms."
The arrest of Istanbul Mayor Ekrem Imamoglu on March 19 sparked a wave of uncertainty across Turkish assets. This led to the lira hitting record lows as investors grew concerned about the increased political risk and potential deviation from the established policies since Erdogan’s reelection in mid-2023.
Imamoglu, a member of the main opposition Republican People’s Party, has been a significant figure in the political landscape. Following his arrest, the party has organized peaceful protests across the country. On Sunday, the party nominated Imamoglu as its presidential candidate for the elections set to take place in 2028.
Erdogan pointed to the opposition’s response as the cause of what he termed "a baseless and artificial volatility" in the markets.
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