Since the 36-year-long civil war ended in 1996, Guatemalans have enjoyed relative economic stability. Agriculture and manufacturing comprise the bulk of economic activity, while remittances from the large Guatemalan expatriate population provide the main source of foreign income. Despite stabilization, distribution of wealth remains highly unequal, and more than half of the population lives below the poverty line, with about 13 percent living in extreme poverty.
Accion has worked in Guatemala with our partner, Génesis Empresarial, in a variety of areas, including credit methodology, business processes and the development and implementation of new financial products. Génesis is a foundation that was founded in 1998 in order to promote socioeconomic development of microenterprises and small businesses.