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== History== | == History== | ||
Panama was inhabited by indigenous tribes before Spanish colonists arrived in the 16th century. It broke away from Spain in 1821 and joined the Republic of Gran Colombia, a union of Nueva Granada, Ecuador, and Venezuela. After Gran Colombia dissolved in 1831, Panama and Nueva Granada eventually became the Republic of Colombia. | |||
With the backing of the United States, Panama seceded from Colombia in 1903, allowing the construction of the Panama Canal to be completed by the US Army Corps of Engineers between 1904 and 1914. The 1977 Torrijos–Carter Treaties led to the transfer of the Canal from the United States to Panama on December 31, 1999. | |||
Revenue from canal tolls continues to represent a significant portion of Panama's GDP, although commerce, banking, and tourism are major and growing sectors. In 2015 Panama ranked 60th in the world in terms of the Human Development Index. Since 2010, Panama has been the second-most competitive economy in Latin America, according to the World Economic Forum's Global Competitiveness. | |||
==Timeline== | ==Timeline== | ||
1821 - In the first 80 years following independence from Spain, Panama was a department of Colombia, after voluntarily joining<br> | |||
1903 - Panama separated from Colombia and began its establishment as a nation<br> | |||
1903 - 1989 Panama was a constitutional democracy dominated by a commercially oriented power that rests with a small number of people<br> | |||
1989 - Operation Just Cause, was necessary to safeguard the lives of U.S. citizens in Panama and the number of US civilians and their dependents, who had worked for the Panama Canal Commission and the US military, and were killed by the Panamanian Defense Forces, has never been fully disclosed<br> | |||
1989 - The bombardments during Operation Just Cause, caused the displacement of 20,000 people<br> | |||
==== Panama in 1915 ==== | ==== Panama in 1915 ==== | ||
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