LAST WEEK’S DARING RESCUE of French-Colombian politician Ingrid Betancourt and 14 other hostages (including three Americans) by Colombian commandos is cause for rejoicing. As Colombian President Alvaro Uribe put it, the rescue mission was “an unbelievable military achievement.” It marked yet another huge victory for Colombia in its war on terrorism and another embarrassing defeat for the country’s main leftist guerrilla group–known by its Spanish acronym, FARC–which had been holding Betancourt since 2002.

During the six years of her captivity, Colombia was transformed. Murders, kidnappings, and terrorist attacks have all plunged dramatically. The FARC has been devastated by combat deaths and desertions; its remaining forces inhabit remote camps deep in the Colombian jungle, far away from the urban areas. As a result, foreign investment is pouring into the biggest cities. The World Bank has lauded Colombia for its economic reforms, which helped GDP grow by 6.8 percent in 2006 and by more than 7 percent in 2007.