Turkish Authorities Take Steps to Reassure Investors Following Imamoglu’s Arrest
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The top economic officials of Turkey plan to address foreign investors on Tuesday in an effort to stabilize the markets following the recent detention of a prominent opposition figure. Finance Minister Mehmet Simsek and central bank Governor Fatih Karahan will participate in a teleconference organized by Citigroup Inc. and Deutsche Bank. The government aims to reassure investors by maintaining policies friendly to investors since Simsek took office. The detention of Istanbul Mayor Ekrem Imamoglu has sparked protests and led to financial instability in Turkey, prompting emergency measures such as raising interest rates and banning short-selling of equities. Despite the recent market turmoil, President Recep Tayyip Erdogan has expressed commitment to the economic program. Erdogan criticized the protests, attributing market volatility to the opposition's response. The government's firm stance in supporting market stability was evident, with measures taken to restore investor confidence.

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