Political and financial turmoil set to dominate Turkey, risking economic stabilization plans

Since protests began in Turkey on March 19, over 1,100 people have been arrested, following the arrest of Istanbul Mayor Ekrem Imamoglu, triggering political and economic instability in the nation. Central bank officials have spent $12 billion in foreign reserves to support the Turkish lira, which hit a record low. Analysts predict continued volatility for the lira and foreign reserves, with concerns about the impact on investor confidence and the country’s economy.

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