Francisco Mayorga
From Wikipedia, the free encyclopedia
Francisco Mayorga (Born in 1949 in León, Nicaragua) is a Nicaraguan economist and writer who specializes in international finance and economic development.[1]
For twenty years he taught managerial economics and corporate finance at INCAE, the leading Latin American graduate business school. In the eighties he served for five years in the board of directors of the Central American Bank (CABEI), the largest financial institution of the region.[2] In the eighties, Mayorga also worked for the cause of peace in Central America, acting as Executive Secretary of the International Commission for Central American Recovery and Development (the Sanford Commission).
Under the presidency of Violeta Chamorro he served as Governor of the Central Bank, where he launched the monetary reform based on the Cordoba Oro that brought to an end the highest hyperinflation in Latin America. In 1995 he founded Banco del Café de Nicaragua, serving as its President and CEO until the year 2000, when in the midst of a banking crisis it collapsed along with half of the Nicaraguan financial institutions. He was then prosecuted by the government of Arnoldo Alemán on the basis of charges which proved to be false. Mayorga was never convicted but spent two and a half years in jail. He was prosecuted twice and defended himself. Mayorga was acquitted by two successive juries in 2001 and 2003.
Mayorga also wrote two novels in prison: La Puerta de los Mares (2001) and El Hijo de la Estrella (2003), both published in Managua by LEA Grupo Editorial. In 2007 he published Megacapitales de Nicaragua (Managua: Ediciones Albertus), a study of the major economic groups in Nicaragua, their business strategies and their implications for economic development. His latest book, Nicaragua 2010: El Futuro de la Economía (Ediciones Albertus, 2008), is an analysis of the changing economic structure of Nicaragua as a consequence of the increased demand for biofuels and its impact on agricultural prices.
He presently serves as Dean of the Albertus Magnus International Institute, a small private Central American academic organization devoted to higher learning and research in export management and international business. Mayorga holds a doctorate (1986) and two masters degrees (1985, 1972) from Yale University.
