Blanco received a business administration degree from San Carlos University in Guatemala, and his thesis was awarded as the best in the country (1985) in the economics area.
He has been awarded The Wolfson Merit Award, Doctorate Honoris Causa from Universidad de San Carlos de Guatemala and Universidad del Valle de Guatemala, John Solomon Guggenheim Foundation Fellowship and the 1998 ICTP Prize in High Energy Physics.
In 1999 he moved abroad for a stint at Guatemalan side USAC.
He obtained his education at the University of Santo Tomás in Costa Rica and the Universidad de San Carlos in Guatemala, where he obtained a degree in law.
The University finally gained international acceptance by Official Decree from Pope Innocent XI, on June 18, 1687.
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It had previously been known as the Escuela de Santo Tomás (School of Saint Thomas), founded in 1562 by the priest Francisco Marroquín.
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