LONDON, Dec 27 (Reuters) - Turkish debt insurance costs surged to 18-month highs on Friday as investors were rattled by a deepening political crisis that has engulfed several ministers, police officers and top businessmen.
Five-year credit default swaps rose more than 30 basis points to 253 bps, according to data from Markit.
Prime Minister Tayyip Erdogan is facing calls to step down but has responded by replacing half his cabinet with loyalists. On Friday a court blocked a government attempt to force police to disclose investigations to their superiors.
Five-year CDS were trading at less than 200 bps before the graft scandal erupted.
Turkey's lira has plunged to a record low against the dollar while its stock market has shed 17 percent since the start of December in wake of the scandal. (Reporting by Sujata Rao; Editing by Ruth Pitchford)
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