Turkish economy hit by political tensions

ANKARA — Turkiye's economic outlook faces mounting uncertainty as recent political tensions threaten to derail efforts to curb high inflation, economists warn.

The Mayor of Istanbul Ekrem Imamoglu, a leading figure in the opposition Republican People's Party, was detained a week ago with about 100 others over allegations of corruption and links to terrorism, rattling financial markets and investors. He was arrested on Sunday.

In response to the market unrest, central bank officials met commercial lenders in Ankara on Sunday afternoon to discuss stabilization measures, according to the Banks Association of Turkiye.