Main opposition posters probed for asking about 128-bln-dollar loss in Central Bank's FX reserves

An investigation has been launched into posters put up by the main opposition CHP in Bursa's Mudanya district for demanding an answer into how the Central Bank spent 128 billion dollars of its reserves in the last two years. The CHP officials in question face charges of “insulting” President Recep Tayyip Erdoğan for the preparation and display of the posters on the municipality billboards.

Duvar English

The Bursa Chief Public Prosecutor's Office has launched an investigation into posters placed by the main opposition Republican People's Party (CHP) for asking how the Central Bank burned through $128 billion in forex exchange reserves during former Finance Minister Berat Albayrak's tenure. 

The posters which were put up by the CHP Mudanya district office on six municipality billboards, have been removed in line with the prosecutors' instructions, the Bursa Governor's Office said in a statement.

The prosecutors accuse the CHP officials of “insulting” President Recep Tayyip Erdoğan.

The investigation has drawn the reaction of several CHP officials, with CHP Bursa MP Nurhayat Altaca Kayışoğlu asking why the government was disturbed by the question.

The hashtag “Where is 128 billion dollars?” became trending on Twitter after CHP leader Kemal Kılıçdaroğlu asked this question on his social media account.

State-owned banks have sold some $128 billion to stabilize the lira in the last two years, supported by swaps from the Central Bank.

There have been even reports that Erdoğan fired former Central Bank Governor Naci Ağbal from his position after the latter launched an investigation into where the loss in foregin exchanges reserves had gone.