The Ankara Court of Appeal has overturned the results of the Republican People’s Party (RNP) congress, voiding Ozgur Ozel’s election as chairman and designating Kemal Kilicdaroglu in his place.
This decision, confirmed by party officials on May 21, caused the Borsa Istanbul 100 index to drop 6.1% during trading hours. The Turkish lira remained stable as state-owned banks sold approximately $6 billion worth of shares the previous day to protect the currency.
