Bolsa de Valores de Nicaragua and issuers of securities. The specific regulatory frame of exchange activity is conformed by Presidential Decree 33-93 or "Reglamento General sobre Bolsas de Valores" (General Stock Market Regulations). The president of the exchange as of 2006 is Dr. Raúl A. Lacayo Solórzano. Bolsa de Valores de Nicaragua Bolsa de Valores de Nicaragua (Stock Exchange of Nicaragua, or BVDN) was created in 1994 and is the only stock exchange operating in Nicaragua. The exchange is the result of private sector initiatives encouraging the country's market liberalization programmes, which began in 1990. Trading operations officially began on January 31, 1994, and as
Mexicana de Aviación 1993, a reorganized Aeroméxico took over as the company struggled financially. During the mid-1990s, the Mexican economy was hard-hit by the devaluation of the Mexican peso and Mexicana, Aeroméxico, and their regional affiliates were nationalized when their parent company, CINTRA (Corporación Internacional de Transporte Aereo), was taken over by the government. The airlines remained in their merged state until 2005. As happened in 1967, a new management team was hired, this time headed by President and CEO, Fernando Flores. The company was reorganized and rationalized, with a new emphasis placed on international service. Unprofitable routes were cut and the DC-10s