1974

1974 is a year in the Gregorian calendar, the timekeeping system most widely used in the world. It falls during a period when the globe was contending with the effects of the 1973 oil price surge, economic decline in Western nations, and political upheaval across many countries.

For Somalia, 1974 fell within the years of Mohamed Siad Barre's rule. In that year, Somalia became a member of the Arab League, a diplomatic step that strengthened the country's ties with Arab nations. Additionally, a severe drought known as Daba-dheer affected large portions of the country, prompting resettlement programs managed by the government.

Global Economy

The rise in oil prices set by oil-producing nations brought stagflation to 1974—a simultaneous condition of high inflation and economic contraction. Western governments introduced energy conservation policies, while developing oil-importing nations increased their foreign debt.

Politics

In August 1974, United States President Richard Nixon resigned following the Watergate investigation, becoming the first president to do so. Gerald Ford succeeded him. In Europe, Portugal underwent a military coup in April, which initiated a transition to democracy and the beginning of independence for African territories the country had colonised.

Africa and the Middle East

In Ethiopia, 1974 is marked by the overthrow of Emperor Haile Selassie, with power transferred to a military council known as the Derg. In the Middle East, ceasefire agreements were signed following the October 1973 war, involving Israel, Egypt, and Syria.