Turkish police launched a large-scale operation that led to the arrest of Istanbul Mayor

(MENAFN)

On the morning of March 19, Turkish police launched a large-scale operation that led to the arrest of Istanbul Mayor and leading opposition figure Ekrem Imamoglu. A key member of the center-left Republican People’s Party (CHP), Imamoglu is facing serious charges, including leading a criminal organization, corruption, extortion, unauthorized access to personal data, manipulating public contracts, and alleged ties to the Kurdistan Workers’ Party (PKK), which Türkiye classifies as a terrorist group. His arrest, broadcast live on Turkish television, took place at his residence in Istanbul.

More than a hundred individuals—including Imamoglu’s close allies, municipal officials, business leaders, and journalists—were also detained as part of a broader investigation that spans both political and economic spheres.

For those closely following Turkish politics, Imamoglu’s arrest did not come as a complete surprise. Despite his widespread popularity, he has long been a target of government scrutiny, with authorities repeatedly attempting to sideline him.

Imamoglu first gained national prominence in 2019 when he won Istanbul’s mayoral election. The Supreme Election Council annulled the results over alleged irregularities, forcing a revote. However, this move backfired—Imamoglu not only secured victory again but widened his margin against the ruling Justice and Development Party (AKP) candidate. This triumph elevated him from a local leader to a symbol of the opposition movement.

In recent months, Imamoglu emerged as the most formidable political challenger to President Recep Tayyip Erdogan, embodying the secularist ideals of Mustafa Kemal Ataturk, the founder of modern Türkiye. Given his role in the CHP—Ataturk’s own party—his arrest carried significant symbolic weight and provoked an immediate response from opposition leaders.

CHP Chairman Özgür Özel condemned the arrest, calling it an “attempted coup” and accusing the government of trying to eliminate its strongest competitor ahead of upcoming elections. Writing on X, Özel declared:

“We are witnessing an attempted coup against our future president. If the government tries to turn the state against the people, the nation will not allow it. We will not back down—democracy will prevail.”

Musavat Dervisoglu, a senior member of the nationalist IYI Party, echoed these concerns in parliament, arguing that the government’s actions had effectively suspended the constitution. He warned that if Erdogan sought re-election under these conditions, the entire opposition should consider boycotting the vote.

The arrest of Türkiye’s most prominent opposition figure sent shockwaves through the country’s financial markets. The Turkish lira plummeted immediately after the news broke, falling from 36.7 to 41 lira per US dollar at its lowest point. The Istanbul Stock Exchange also suffered, with trading temporarily halted after a steep 7% decline. Investors fear that escalating political instability could further weaken the already fragile economy.

Although the lira showed some signs of recovery—stabilizing at around 38 lira per dollar by midday on March 20—uncertainty remains high. Turkish economic experts warn that continued political turmoil could trigger further currency depreciation and financial instability in the near future.

As Türkiye navigates this deepening crisis, Imamoglu’s arrest raises serious questions about the country’s political future. Whether this move strengthens Erdogan’s grip on power or ignites greater resistance from the opposition remains to be seen.

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