NEW YORK, April 18: State Bank Governor Ishrat Husain met with top US financial officials in New York on Thursday to inform them of the new banking and structural reforms in Pakistan’s financial sector.

Mr Husain, who attended the annual spring meeting of the World Bank and the International Monetary Fund in Washington, met with the president of the Federal Reserve Bank of New York, William McDonough, and the president of Citibank, Stanley Fischer.

Mr Husain reportedly said despite the Iraq crisis and fear of higher oil prices, the exchange rate had stayed stable, interest rates had remained low, and the stock market had risen dramatically, which was an indicator of Pakistan’s growing economic stability.