February 1976: ‘Ten Wise Men’ meet on the New International Economic Order

Emanating from a summit of the Non-Aligned Movement in 1973; the New International Economic Order (NIEO) proposed a more equitable restructuring of the world’s trade and development systems towards developing countries. In particular it sought an alternative to the Bretton Woods system. In pursuit of this a Commonwealth Group of Experts was established at Kingston CHOGM 1975 and charged with devising ‘a comprehensive and inter-related programme of practical measures, directed at closing the gap between the rich and the poor countries.” [1]

The group produced two interim reports before the final edition was submitted for consideration at the1977 CHOGM. In the last chapter on International Institutions it stated “if a new international economic order is to bring real and long-term development to the developing countries it cannot be achieved without basic institutional reforms.” It also went on to call for those countries to be allowed a greater role in the management of such institutions.

The group nicknamed ‘Ten Wise Men’[2] was lead by Alister McIntyre, then Secretary-General of CARICOM. Their report was the first in a series of notable Commonwealth expert reports in the area of economic.

To read these reports or access records relating to the Group of Experts, please contact the Commonwealth Secretariats Library and Archives.

[1] Towards a new international economic order: a final report by a Commonwealth Experts' Group; Commonwealth Secretariat. Economic Affairs Division, London: 1977.