The history of Panama has been marked by a series of events throughout its 121 years, a history that has shaped its development as a country. After achieving independence from Spain in 1821, Panama joined Gran Colombia, a confederation made up of the present-day countries of Colombia, Ecuador, Venezuela and Panama. However, on November 3, 1903, Panama separated from Gran Colombia and became an independent republic.
Independent Country
In 1903 Panama managed to separate from Colombia and became an independent republic. This fact was possible thanks to the support of the United States, which sought to build an interoceanic canal in the region. The construction and subsequent control of the Panama Canal by the United States had a significant impact on the country’s economy and politics.
Consolidation of the Republic
After independence, Panama faced numerous challenges to consolidate as a stable republic. The country experienced political instability and internal conflicts. There were changes of government, territorial conflicts and economic tensions that affected the development of the country.
Economic and Political Development
Throughout the 20th century Panama experienced economic growth driven by trade and banking activity. The opening of the Panama Canal in 1914 was a key factor in the country’s economic development, as it facilitated maritime trade between the Atlantic and the Pacific. Over the decades, the country went from being an agricultural economy based on the export of products such as coffee and bananas, to becoming an important financial and services center.
Political Changes and Dictatorship
In the political sphere, Panama experienced different stages, from military dictatorships to democratic governments. During the second half of the 20th century, the country experienced political and social tensions that culminated with the signing of the Torrijos-Carter Treaties in 1977 that established the return of the Panama Canal to Panamanian hands in 1999.
The country also experienced moments of political tension such as the military coup of 1968 and the subsequent dictatorship of Manuel Noriega, which culminated in the invasion of the United States in 1989.
Promising Future
After 121 years of republican life, Panama continues to be considered one of the most prosperous countries in Central America, with a growing economy and an important role in world trade.
