The word "Colombia" comes from Christopher Columbus (Spanish: Cristóbal Colón). It was conceived by the Venezuelan revolutionary Francisco de Miranda as a reference to all the New World, but especially to those territories and colonies under Spanish and Portuguese rule. The name was later adopted by the Republic of Colombia of 1819, formed out of the territories of the old Viceroyalty of New Granada (modern-day Colombia, Panama, Venezuela and Ecuador.
Since the beginning of the periods of Conquest and Colonization, there were several rebel movements under Spanish rule, most of them either being crushed or remaining too weak to change the overall situation. The last one which sought outright independence from Spain sprang up around 1810, following the independence of St. Domingue in 1804 (present-day Haiti), who provided a non-negligible degree of support to the eventual leaders of this rebellion: Simón Bolívar and Francisco de Paula Santander.
In spite of the difficulties presented by serious internal armed conflict, Colombia's economy grew steadily in the latter part of the twentieth century, with gross domestic product (GDP) increasing at an average rate of over 4% per year between 1970 and 1998. The country suffered a recession in 1999 (the first full year of negative growth since the Great Depression), and the recovery from that recession was long and painful. However, in recent years growth has been impressive, reaching 8.2% in 2007, one of the highest rates of growth in Latin America. Meanwhile the Colombian stock exchange climbed from 1,000 points at its creation in July 2001 to over 7,300 points by November 2008.
Comombia 85th country visiting this blog
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