ETRAI Director Ernest Sturc Subject Files

36773

1949-1981, predominant 1965-1980

series

textual records

21 linear feet of textual records

Series is open according to the Archives Access Policy. Files will be screened by reference staff for any time restrictions.

Series consists of the subject files of Ernest Sturc, Director of the Exchange and Trade Relations Department (1965-1980). The bulk of the records covers the period during which Sturc was Director of the department, however there are a few which predate 1965. These consist of working files originally maintained by Irving Friedman, the Department's first Director, and inherited by Sturc. The records within this series reflect several aspects of the department's functions and also documents the procedural and operational evolution of the department over the years., The records contain discussion and review of policies surrounding Article IV surveillance and the transition between Article VIII and XIV as ETR, in consultation with Legal, Research, Treasurer's and Area Departments drafted policies regarding the implementation of Article IV for the surveillance over exchange rate policies., As reflected in the records, the application of policies required that the Department play a central role in the IMF's dealings with several organizations. Often, ETR senior officials represented the IMF on United Nations Conference on Trade and Development (UNCTAD), Berne Union, United Nations Economic and Social Commission for Asia and the Far East (ESCAPE), and United Nations Economic and Social Council (ECOSOC). For example, in 1968, ETR in consultation with IBRD and member governments, prepared a study on the use of commercial credits by developing countries for financing imports of capital goods. This report was prepared in response to a Resolution adopted by UNCTAD. Some of the other issues covered during these sessions include compensatory drawing repurchases, payments union, multilateral food aid, and buffer stock., The series also consists of files pertaining to the Steering Committee of the Development Committee in which ETR participated. Another ETR function which is reflected in the records involves advice to management, through Board papers on the development and review of IMF specific policies and facilities. Some of these include bilateralism, commodity, compensatory financing and conditionality. With regards to commodity, ETR examined commodity work and markets with a view to identifying and alleviating problems related to production and trade in agricultural goods and metals and the IMF's role in the commodity area. In both the areas of compensatory and financing, ETR collaborated with Functional Departments to recommend guidelines for both areas., Files within the series are arranged alphabetically according to subject and chronologically within.