[1][2] He was deputy governor[3] of the Bank of Jamaica prior to returning to Guyana to serve as minister of finance.
[4] He resigned as minister of finance in May 1995 over "political and policy differences" with President Jagan.
[5] Soon after, Ally founded the Guyana Democratic Party,[6] and in July 1996 announced that he would run for president in the 1997 elections.
He ran with a coalition of Guyanese Action for Reform and Democracy (GUARD) and the Guyana Labour Party (GLP), but it disbanded after the election.
[7] Ally re-aligned with Jagan and the PPP/C[8] joining again to pledge his support during the 2011 elections.