Guyana. In April, according to
Countryaah.com, the International Monetary Fund (IMF)
granted a $ 26 million loan to support the government's
economic reform policy.
Guyana covers an extensive area of land and has
historically been involved in a number of territorial
disputes with neighboring Venezuela and Suriname, although
relations - especially trade - have been good with Brazil.
Jagan wanted to change the structural adjustment program
his predecessor Desmond Hoyte had negotiated in place with
the IMF. At the same time, his government defended the
"non-conventional" methods used to solve the problems of
land distribution, transport, health, housing and education.
At the same time, he defended the expansion of the market
economy, to solve the problem of poverty among the 80% of
the population whose emigration exceeded population growth.
In this way, the population actually dropped from 1,020,000
in 1989 to 808,000 in 1992.
Guyana's riches are almost intact. The country has huge
gold reserves, diamonds, bauxite, forests and a huge
agricultural potential. The state budget deficit triggered
significant inflation and was also linked to the smuggling
of minerals as well as the determination of export prices of
sugar, rice and other agricultural products.
The celebration of the Jagan government's first year of
government was marred by a strike by the state electricity
company. It was triggered when the government broke a
previous pledge of 300% pay rise for government workers. The
government stated that demands from the IMF prevented it
from being so "generous".
In June 1994, Jagan rejected the new ambassador the
United States had appointed to the country, accusing him of
"subversive activities" during the last term of the British
In 1995, the country's largest environmental disaster so
far occurred when 4 million cubic meters of waste material
washed into the Oma River, which flows into Essequibo - the
country's most important river.
In February 1996, the human rights organization Amnesty
International criticized the use of the death penalty for
asphyxiation in Guyana - for the first time since 1990. That
same year, the country obtained $ 500 million of its foreign
debt - nearly a quarter of its total debt.
After Jagan died in 1997, his wife Janet temporarily
assumed the post of prime minister, until the December 15
election where she was elected president with 55.3% of the
vote against 40.6% for Hoyte's PNC. Despite threats of civil
disobedience by Hoyte, Janet Jagan was deployed on December
19 at the presidential post. At the same time, Sam Hind was
appointed prime minister.
During the first months of his reign, Jagan was faced
with a severe drought affecting the country's production,
reducing trade, creating transport problems and increasing
the number of forest fires. Price increases triggered
protest demonstrations, the largest of which took place in
front of the country's state telephone company headquarters,
after it had increased tariffs by 400-1000%.
After almost 20 months in the presidential post, then
78-year-old Jagan retired for health reasons. The post was
handed over to her finance minister, Bharrat Jagdeo, who was
then 35 years old. The predominantly black party PNC
criticized this way of transferring power.