Turkey’s anti-democratic crackdown is damaging its economy
President Erdogan’s arrest of his chief rival has shaken investors’ confidence
IF YOUR ONLY source of information were market data, you might think a measure of calm had returned to Turkey this week, after the chaos caused by the arrest on March 19th of Ekrem Imamoglu, the mayor of Istanbul. The country’s stockmarket index rose by 2.8% on March 24th after plummeting by 16.3% in the three days following Mr Imamoglu’s detention. The Turkish lira seems to be getting back on its feet, too.
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