 The biggest component of Árbenz 's project of modernization was his agrarian reform bill . Árbenz drafted the bill himself with the help of advisers that included some leaders of the communist party as well as non @-@ communist economists . He also sought advice from numerous economists from across Latin America . The bill was passed by the National Assembly on 17 June 1952 , and the program went into effect immediately . The focus of the program was on transferring uncultivated land from large landowners to their poverty stricken laborers , who would then be able to begin a viable farm of their own . Árbenz was also motivated to pass the bill because he needed to generate capital for his public infrastructure projects within the country . At the behest of the United States , the World Bank had refused to grant Guatemala a loan in 1951 , which made the shortage of capital more acute . 
