R&I: If economic policies are maintained, political and economic turbulence will not have an immediate impact on the credit rating.

R&I, the Japan-based credit rating agency, reported that the massive protests triggered by the arrest of Istanbul Mayor Ekrem İmamoğlu have led to a drop in the lira and stock market, causing chaos in the financial markets. The agency noted that the Central Bank of Turkey (TCMB) is attempting to defend the lira by intervening in the currency market and raising overnight lending rates, while Treasury and Finance Minister Mehmet Şimşek emphasized his commitment to restoring financial market stability to calm the turbulence on March 25.

R&I stated, "If the government and the central bank maintain the policy direction included in the note, the current turmoil in financial markets may not immediately affect the rating." They highlighted that opposition parties are intensifying conflicts with the government, and citizen protests continue. Despite the country's high growth potential and low public debt ratio supporting its creditworthiness, R&I cautioned about the potential for continued chaos impacting macroeconomic stability.