Guatemala is a country about the size of Tennessee in southern Central America. According to the Population Reference Bureau, Guatemala has a population of more than fourteen million people since 2010. This makes it one of the most populated countries in Central America. However, Guatemala has high levels of inequality and discrimination especially between the Mayan and Ladino population. Mayans make up 40% of the country, while Ladinos make up the majority 60%. About 60% of all Guatemalans live in poverty according to Avivara.org. In Guatemalan history, government policies excluded Mayans from sharing the benefits of the country’s economic growth. Natives remain targets of racism, exclusion (from land, labor, and education), and injustice.
…show more content…
These things are normal things in everyones lives because Americans are so used to their efficient way of banking. However, among those living in poverty, only one in ten people has a bank account to keep their money safe or have means of a credit. That is 2.5 billion people all around the world who do not have access to something that Americans use everyday. Those 2.5 billion people store their money in places like under their bed, ask friends or relatives for money, or find some sort of unsafe loan service. Those three methods are not good ways to store or receive money because by storing money in an insecure place like under a bed, there is a high chance that it can and will be stolen. The video “Extreme Budgeting” gave an example of how storing money in an insecure location could go wrong. They shared the story of Yonada; she is a Guatemalan native who lives in the remote village of Peña Blanca. She stored all the money that she earned for repairs to her house and for her children’s education in a box under her bed. One day when she went to retrieve the box it was not there. Just like that she had lost all of her savings. She no longer had money to repair her home and she could not continue with her children’s education because she could not afford it. As for borrowing money …show more content…
Rosa when asked why Grameen worked better for her and the natives, responded, “ It is easier to receive a loan from Grameen because they work with simple things. They don’t ask for too many things like others banks that ask for the deed of the house or land. Grameen only asks for a photocopy of your ID, simple things.” Banrural Grameen has impacted many people in Peña Blanca. This type of microfinance helps families and empowers women to bring prosperity to their families. For example, Doña Maria took out a loan for $120 USD and she now runs the village store. Luisa also took out a loan for $120 USD and used the money to buy a chainsaw to start her firewood business. Rosita took out a loan for $300 USD and now owns an onion farm. Maria also took out a loan for $300 USD and used her money to repair her house. Not only does Banrural Grameen allow the villagers to take out loans but by taking out a loan, it commits them to opening up a long term savings account with Grameen. So, now the villagers have a safe place to keep their money. Zach, Sean, Ryan, and Sean personally took out the loan for $125 USD to grow their radishes. By being able to sell those radishes they are increasing their income to almost $2 a day. This is may not seem like much but to them and to poor villagers, it could mean survival. This is why it’s very important for everyone in
These things are normal things in everyones lives because Americans are so used to their efficient way of banking. However, among those living in poverty, only one in ten people has a bank account to keep their money safe or have means of a credit. That is 2.5 billion people all around the world who do not have access to something that Americans use everyday. Those 2.5 billion people store their money in places like under their bed, ask friends or relatives for money, or find some sort of unsafe loan service. Those three methods are not good ways to store or receive money because by storing money in an insecure place like under a bed, there is a high chance that it can and will be stolen. The video “Extreme Budgeting” gave an example of how storing money in an insecure location could go wrong. They shared the story of Yonada; she is a Guatemalan native who lives in the remote village of Peña Blanca. She stored all the money that she earned for repairs to her house and for her children’s education in a box under her bed. One day when she went to retrieve the box it was not there. Just like that she had lost all of her savings. She no longer had money to repair her home and she could not continue with her children’s education because she could not afford it. As for borrowing money …show more content…
Rosa when asked why Grameen worked better for her and the natives, responded, “ It is easier to receive a loan from Grameen because they work with simple things. They don’t ask for too many things like others banks that ask for the deed of the house or land. Grameen only asks for a photocopy of your ID, simple things.” Banrural Grameen has impacted many people in Peña Blanca. This type of microfinance helps families and empowers women to bring prosperity to their families. For example, Doña Maria took out a loan for $120 USD and she now runs the village store. Luisa also took out a loan for $120 USD and used the money to buy a chainsaw to start her firewood business. Rosita took out a loan for $300 USD and now owns an onion farm. Maria also took out a loan for $300 USD and used her money to repair her house. Not only does Banrural Grameen allow the villagers to take out loans but by taking out a loan, it commits them to opening up a long term savings account with Grameen. So, now the villagers have a safe place to keep their money. Zach, Sean, Ryan, and Sean personally took out the loan for $125 USD to grow their radishes. By being able to sell those radishes they are increasing their income to almost $2 a day. This is may not seem like much but to them and to poor villagers, it could mean survival. This is why it’s very important for everyone in