2008: Pakistan economic events
January In the aftermath of Bhutto’s death
Following a three-day shut-down, the benchmark index, the KSE100 index, of the Karachi Stock Exchange fell 4.7 percent. The rupee fell to its lowest level against the U.S. dollar since October 2001. The stock exchange has a history of recovering after political unrest. The Pakistan Railways suffered losses of PKR 12.3 billion as a direct result of riots following the assassination. 63 railway stations, 149 bogies, and 29 locomotives were damaged within two days of Bhutto’s death. In the first four days after the assassination, Karachi suffered losses of $1 billion. By the fifth day, the cost of country wide violence amounted to 8% of the GDP. Read More »2008: Pakistan economic events