GERALD KEITH BOUEY - CANADA

• Document Type: FOIA
• Collection: FOIA Collection
• Document Number (FOIA) /ESDN (CREST): 06751449
• Release Decision: RIPPUB
• Original Classification: U
• Document Page Count: 2
• Document Creation Date: December 28, 2022
• Document Release Date: August 1, 2018
• Case Number: F-2017-01113
• Publication Date: September 9, 1977

pproved for Release: 2018/06/28 C06751449
01/9/6e /77- /45-6_ m
Gerald Keith BOUEY
Governor, Bank of Canada
(since February 1973)
Addressed as:
Mr. Bouey
An economist with
almost 30 years of service
with the Bank of Canada,
Gerald Bouey is serving
a seven-year term as
governor of the bank
and president of the
Industrial Development
Bank. He is responsible
for overseeing the regula-
tion of credit and currency
and for advising the government
economic policy issues.
MICROFILMED
CANADA (W(1)
(b)(3)
on financial and
(b)(1)
(b)(3)
The government strongly supports
international financing arrangments for countries
with balance of payments problems and will probably
continue to contribute to general financing agree-
ments. Bouey may seek provisions that would require
recipient nations to make efforts to reduce spending
and curb inflation. He and the government of Prime
Minister Pierre Trudeau also believe that capital
account positions, as well as the current account,
should be used in determining the need for financial
support, which should be given only after other fi-
nancing sources have been exhausted.
As far as the IBRD is concerned, Canada feels
a close kinship with developing nations and sees uprin
itself as their natural model and leader and has
h ilAU
contributed a great deal of money to international
aid and development funds. Bouey would not want (ma
to sacrifice his country's bilateral aid programs
for multilateral ones.
Views on Domestic Financial Policy
A fiscal conservative, Bouey believes that
Canada must control inflation in order to achieve
sustained economic growth. He sees most of Canada's
(cont.)
CR M 77-14656
Approved for Release: 2018/06/28 C06751449
(b)(1)
(b)(3)
pproved for Release: 2018/06/28 C06751449
problems (unemployment, sluggish growth and current
account deficits) as rooted primarily in inflation.
He opposes creating employment by overstimulating
the economy; in his opinion, expansionary monetary
policies would only generate higher inflation.
Instead, Bouey favors gradually lowering the rate
of growth of the money supply and continuing the
current wage and price controls until Canadian
goods are again cost-competitive with US goods.
He has made a determined effort to moderate and
steady the growth of the money supply.
Personal Data
Bouey received a B.A. degree with honors in
economics (1948) from Queen's University in Kingston,
Ontario. He belongs to the Canadian Economic Associa-
tion. His interests include golf and curling. Bouey,
57, is married to the former Anne Margaret Ferguson
and has a son, Robert, and a daughter, Kathryn.
Career Highlights
1936-41
1941-45
1948-date
1948-52
1953-56
1956-62
1962-65
1965-69
1969-71
1972-13
1973-date
Ledgerkeeper and teller,
Royal Bank of Canada
Service overseas with Royal
Canadian Air Force
Employee, Bank of Canada
- 2
Employee, Research
Department
Assistant chief, Research
Department
Deputy chief, Research
Department
Chief, Research Department
Adviser to Board of
Governors
Deputy governor
Senior deputy governor
Governor
9 September 1977
Approved for Release: 2018/06/28 C06751449
(b)(1)
(b)(3)