Turkish authorities have detained Istanbul Mayor Ekrem Imamoglu, a key opposition leader and potential presidential candidate, on charges of corruption and alleged ties to the outlawed Kurdistan Workers’ Party (PKK). The main opposition party, the Republican People’s Party (CHP), denounced the move as a “coup against our next president.”
The detention follows a broader crackdown on opposition figures ahead of the 2028 elections, raising concerns over Turkey’s democratic trajectory. The Turkish lira nosedived 12% to a record low of 42 per U.S. dollar, as investors reacted to the deepening political crisis.
Imamoglu, 54, had been expected to be officially named CHP’s presidential candidate in the coming days. Instead, he now faces multiple charges, including allegations of leading a crime syndicate and rigging public tenders. His arrest sparked protests in Istanbul, with demonstrators chanting, “The day will come when the AKP is called to account.”
Despite the legal challenges, CHP leader Özgür Özel insisted Imamoglu would remain the party’s candidate. “Turkey is witnessing a coup against its future president,” Özel declared.
Erdogan’s government, which has faced mounting criticism over democratic backsliding, insists the judiciary is acting independently. The president himself is nearing the end of his second term, and under current constitutional limits, he would need to call early elections or push for legal amendments to seek re-election.
The political turmoil has rattled financial markets, sending Istanbul’s stock index down more than 5% and jeopardizing Turkey’s economic recovery. Analysts warn the crisis could derail interest rate cuts and stall progress in curbing inflation, which stood at 39% last month.
Meanwhile, the Istanbul prosecutor’s office claims Imamoglu and several municipal officials aided the PKK, a group designated as a terrorist organization by Turkey, the U.S., and the EU. If convicted, a government-appointed trustee could replace him as mayor, further inflaming tensions ahead of the elections.
Adding to Imamoglu’s woes, Istanbul University annulled his academic degree on Tuesday, a move that could legally bar him from running for president.
With protests growing and economic instability deepening, Erdogan’s government faces a crucial test of its grip on power as Turkey braces for further political turbulence.