Guatemalan President Alvaro Colom has apologized to the family of former President Jacobo Arbenz who was ousted in a 1954 coup backed by the United States.
Colom has acknowledged the state's responsibility in overthrowing Arbenz.
He spoke at the National Palace of Culture commemorating the 67th anniversary of the Central American nation's revolution.
Arbenz's son has blamed the United States saying private interests motivated the CIA to orchestrate the coup. The family submitted a complaint to the Inter-American Commission on Human Rights in 1999.
Colom announced on Thursday that he will name a federal highway after Arbenz. Guatemala also promised unspecified monetary compensation.
Arbenz died in exile in Mexico in 1971.