Che Guevara in Guatemala

On July 7, 1953, Guevara set out again, this time to Bolivia, Peru, Ecuador, Panama, Costa Rica, Nicaragua, Honduras and El Salvador. In December 1953 he arrived in Guatemala where President Jacobo Arbenz Guzmán headed a democratically elected government that, through land reform and other initiatives, was attempting to end the latifundia system. Guevara decided to settle down in Guatemala so as to "perfect [him]self and accomplish whatever may be necessary in order to become a true revolutionary".

In Guatemala City, Guevara sought out Hilda Gadea Acosta, a Peruvian economist who was well-connected politically as a member of the left-leaning American Popular Revolutionary Alliance (APRA). She introduced Guevara to a number of high-level officials in the Arbenz government. Guevara also established contact with a group of Cuban exiles linked to Fidel Castro through the July 26, 1953 attack on the Moncada Barracks in Santiago de Cuba. During this period he acquired his famous nickname, due to his frequent use of the Argentine interjection "che", which is used in much the same way as "hey" or "pal".

Guevara's attempts to obtain a medical internship were unsuccessful and his economic situation was often precarious. On May 15, 1954 a shipment of Škoda infantry and light artillery weapons was sent from Communist Czechoslovakia for the Arbenz Government and arrived in Puerto Barrios, prompting a CIA-sponsored coup attempt. Guevara was eager to fight on behalf of Arbenz and joined an armed militia organized by the Communist Youth for that purpose, but frustrated with the group's inaction, he soon returned to medical duties. Following the coup, he again volunteered to fight, but soon after, Arbenz took refuge in the Mexican Embassy and told his foreign supporters to leave the country. After Hilda Gadea was arrested, Guevara sought protection inside the Argentine consulate, where he remained until he received a safe-conduct pass some weeks later and made his way to Mexico.

The overthrow of the Arbenz regime cemented Guevara's view of the United States as an imperialist power that would oppose and attempt to destroy any government that sought to redress the socioeconomic inequality endemic to Latin America and other developing countries. This strengthened his conviction that Marxism achieved through armed struggle and defended by an armed populace was the only way to rectify such conditions.