The Guatemalan painter Arturo Valderramos worked in the period from 1950 to 1980, judging from his work which I have seen. Senor Valderramos was born in 1915 and died in 1995. The photo above was provided by his daughter, who now lives in Germany. Many of his paintings consist of pairs of paintings, a man and a woman, dressed in traditional Guatemalan traje.
This particular painting shows a man from the Cakchiquel town of Solola, which is the capital of the department of the same name. He is dressed in traditional traje for fiesta or cofradia celebration. The painting is oil on stretched canvas and measures 17 x 23 inches. The frames has a few nicks, and the overall size is 21 x 27 inches. My guess is that this painting dates from the 1970s. Under the signature it says "copia", which means "copy" in Spanish. This is a copy of a painting by the famed Guatemalan artist Alfredo Galvez Suarez.
Condition is very good, with some very slight surface soil. The painting appears to have never been varnished. The final photos below show the title in the lower left and the signature in the lower right corners.