The series consists of records created and received by Stern primarily while serving as managing director from December 1991 until his retirement in 1995. The majority of the records in this series are chronological files containing outgoing memoranda, letters, facsimiles, reports, and handwritten notes addressed to his fellow Managing Directors Atilla Karaosmanoglu and Sven Sandstrom, President Lewis Preston, regional vice presidents, Financial Policy and Risk Management Vice Presidency (FPRVP) and other senior managers. The files cover issues including: Loan Committee proceedings for which Stern served as chairman; Commonwealth of Independent States (CIS) food security, staffing, and other matters; initiation and status of country loans; country debt; resource mobilization and IDA replenishments; planning and review of Bank program and budget; recruitment; and comments contributing to internal papers and strategy discussions. Other external correspondents include senior government officials, academic institutions, and private sector executives.

Also included in this series are subject files that mainly consist of incoming and outgoing correspondence. There are some earlier documents kept as reference and a small amount of correspondence dates from 1988 when Stern was senior vice president, Finance. Several files relate to Stern's liaison activities with external organizations, development banks, and academic institutes including routine information sharing, attendance at meetings and conferences, comments on papers, and advisory activities. Records relating to coordination between the Bank, International Monetary Fund (IMF) and and European Bank of Reconstruction and Development (EBRD) refer to the situation in the Soviet Union and discussion of lending for the oil sector in Russia. Other files pertain to the Bank?s External Affairs unit, Treasury Vice Presidency, and correspondence with the Office of the Secretary. Group of Seven (G7) records include letters to United States Treasury officials and G7 working group members with attached notes sharing information about the Bank?s activities in selected countries including Russia, Bank policy notes, discussion papers, and copies of related Bank senior officials? correspondence including from President Lewis Preston. A general correspondence file contains some incoming and outgoing letters of a non-specific nature related to Stern's responsibilities as managing director and some personal correspondence with various colleagues and individuals.

Series alsocontains a small portion of files relating to lending operations and portfolio management, Lending Allocation Review (LAR) guidelines, Policy Review Committee guidelines, and Country Strategy Assistance Program guidelines.