Effect On The Economy
The Pakistani stock market was the first to react, with the Karachi Stock Exchange (KSE) falling by more than 4.6% on the first day of the emergency.
Investors in the United Kingdom pulled back $26.27 million while investors in the United States withdrew $51.93 million. It is estimated that more than $235 million in total were withdrawn from the KSE during the emergency.
Standard & Poor's Ratings Services also revised its outlook on the long-term foreign and local currency sovereign credit ratings of Pakistan from stable to negative.
The Dutch government froze development aid to Pakistan in response to the imposition of emergency rule. Deputy Minister for Development Bert Koenders decided to suspend the remainder of the €15 million (US$22 million) that had yet to be paid in 2007.
Read more about this topic: Pakistani State Of Emergency, 2007
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