Francisco Mayorga

Who is Francisco Mayorga?

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, 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.

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.