1. Remove the crusts from the bread and cut into cubes; place in a bowl and pour over the milk. Allow to soak for 15 minutes.
2. In a bowl combine the eggs, sugar, cinnamon, nutmeg, butter and rum, mixing thoroughly. Fold in the soaked bread and the guava dices. Pour the pudding into a caramelized mold. Place the mold in a baking pan containing 1 inch water. Bake in a 350ยบ oven for about 1 hour 45 minutes, or until set.