Simsek to hold a conference call with international investors

Turkey’s Finance Minister Mehmet Simsek is set to hold a conference call with international investors on Tuesday, according to sources familiar with the matter. The move comes as authorities attempt to stabilize markets following recent turmoil sparked by the arrest of a prominent opposition leader. Simsek’s teleconference is scheduled for 1 p.m. London time, the sources said, requesting anonymity due to the sensitive nature of the information. The Treasury and Finance Ministry has yet to comment on the matter outside of regular business hours. Turkish markets have faced mounting pressure since last Wednesday, when Istanbul Mayor Ekrem Imamoglu—widely regarded as President Recep Tayyip Erdogan’s strongest political challenger—was taken into custody and later formally arrested. In response, the lira and stock market saw sharp declines, prompting policymakers to intervene with emergency measures, including an unscheduled rate hike and a ban on short-selling stocks.