UN General Assembly
1974

78. The opening of this session has been, marked by the admission of three new States Members to the Organization. We are happy to welcome to this hall the representatives of Bangladesh, Grenada and our sister Republic of Guinea-Bissau, to which we would convey our warm and fraternal congratulations, accompanied by our best wishes for happiness and prosperity for their peoples. 79. The twenty-ninth session of the General Assembly of the United Nations is taking place against a background of important international events and changes. Indeed, in spite of tireless efforts to bring about detente, the number of conflicts involving a resort to force has not been reduced. We are witnessing helplessly an unbridled arms race, constantly accompanied by assurances of detente and false promises of disarmament. 80. The already disastrous economic situation in parts of the world, particularly in developing countries, continues to worsen at a dizzying rate under the pernicious influence of galloping inflation, provoked by monetary disorder.