Hoyte to present Hoyte and economic liberalization Despite concerns that the country was about to fall into a period of political instability, the transfer of power went smoothly. Vice President Desmond Hoyte became the new executive president and leader of the PNC. His initial tasks were threefold: to secure authority within the PNC and national government, to take the PNC through the December 1985 elections, and to revitalize the stagnant economy. The State Department would later stated that the Guyanese government sought to improve diplomatic relations with the U.S., coupled with a shift "toward political nonalignment" and away from "state socialism and one-party control" to expanded freedom of assembly and press and a market economy. In 1986, his government would submit a letter of intent to the IMF and World Bank, indicating commitment and willingness to economic policy reform.
Hoyte to present Hoyte and economic liberalization Despite concerns that the country was about to fall into a period of political instability, the transfer of power went smoothly. Vice President Desmond Hoyte became the new executive president and leader of the PNC. His initial tasks were threefold: to secure authority within the PNC and national government, to take the PNC through the December 1985 elections, and to revitalize the stagnant economy. The State Department would later stated that the Guyanese government sought to improve diplomatic relations with the U.S., coupled with a shift "toward political nonalignment" and away from "state socialism and one-party control" to expanded freedom of assembly and press and a market econo.my. In 1986, his government would submit a letter of intent to the IMF and World Bank, indicating commitment and willingness to economic policy reform.