Francisco Mayorga
Encyclopedia
Francisco Mayorga is a Nicaraguan
economist and writer who specializes in international finance and economic development.
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.
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.
An active Christian Democrat and opponent to the government of Arnoldo Alemán
, Mayorga was prosecuted on the basis of charges which proved to be false. Mayorga was never convicted but spent two and a half years in jail as a political prisoner. He faced trial twice, assuming his own defense. Mayorga succeeded in winning his acquital by two successive juries in 2001 and 2003. The Human Rights Commissioner of Nicaragua declared twice the violation of Mayorga's rights: one for retardation of justice and one for double jeopardy.
Literature works: 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 subsequent years he has occasionally published short stories and poems.
In 2003 he returned to academic life as Dean of the Albertus Magnus International Institute, a small private Central America
n organization devoted to higher learning and research in economics, finance and international business.
Economic writings: 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. Both books continue to exercise considerable influence in the debate about the Nicaraguan economy.
In 2009-2010 Mr. Mayorga was the Central American spokesman in the negotiation of the financial instrument of the Association Agreement with the European Union.
He worked at Albertus for eight years, resigning in June 2011 to become a Central American Counselor to the Board of Directors of the Inter American Development Bank (IDB) in Washington. At present he also serves as an honorary advisor to the President of Nicaragua.
Mr. Mayorga holds a doctorate (1986) and two masters degrees (1985, 1972) from Yale University
.
Nicaraguan
Nicaraguans are people inhabiting in, originating or having significant heritage from Nicaragua. Most Nicaraguans live in Nicaragua, although there is also a significant Nicaraguan diaspora, particularly in Costa Rica and the United States with smaller communities in other countries around the world...
economist and writer who specializes in international finance and economic development.
For twenty years he taught managerial economics
Managerial economics
Managerial economics as defined by Edwin Mansfield is "concerned with application of economic concepts and economic analysis to the problems of formulating rational managerial decision." It is sometimes referred to as business economics and is a branch of economics that applies microeconomic...
and corporate finance at INCAE
INCAE
INCAE Business School is a business school located in Latin America. It has 2 locations, the Francisco de Sola campus in Nicaragua and the Walter Kissling Gam campus in Costa Rica...
, 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.
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
International Commission for Central American Recovery and Development
Established at Duke University in 1987, the International Commission for Central American Recovery and Development was a task force composed of thirty-three scholars and leaders...
(the Sanford Commission).
Under the presidency of Violeta Chamorro
Violeta Chamorro
Violeta Barrios Torres de Chamorro is a Nicaraguan political leader, former president and publisher. She became president of Nicaragua on April 25, 1990, when she unseated Daniel Ortega...
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
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
. 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.
An active Christian Democrat and opponent to the government of Arnoldo Alemán
Arnoldo Alemán
José Arnoldo Alemán Lacayo was the 81st President of Nicaragua from 10 January 1997 to 10 January 2002.-Biography:Alemán was born in Managua and received his early education at the La Salle institute in Managua...
, Mayorga was prosecuted on the basis of charges which proved to be false. Mayorga was never convicted but spent two and a half years in jail as a political prisoner. He faced trial twice, assuming his own defense. Mayorga succeeded in winning his acquital by two successive juries in 2001 and 2003. The Human Rights Commissioner of Nicaragua declared twice the violation of Mayorga's rights: one for retardation of justice and one for double jeopardy.
Literature works: 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 subsequent years he has occasionally published short stories and poems.
In 2003 he returned to academic life as Dean of the Albertus Magnus International Institute, a small private Central America
Central America
Central America is the central geographic region of the Americas. It is the southernmost, isthmian portion of the North American continent, which connects with South America on the southeast. When considered part of the unified continental model, it is considered a subcontinent...
n organization devoted to higher learning and research in economics, finance and international business.
Economic writings: 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. Both books continue to exercise considerable influence in the debate about the Nicaraguan economy.
In 2009-2010 Mr. Mayorga was the Central American spokesman in the negotiation of the financial instrument of the Association Agreement with the European Union.
He worked at Albertus for eight years, resigning in June 2011 to become a Central American Counselor to the Board of Directors of the Inter American Development Bank (IDB) in Washington. At present he also serves as an honorary advisor to the President of Nicaragua.
Mr. Mayorga holds a doctorate (1986) and two masters degrees (1985, 1972) from Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
.