Panamas finance minister between a rock and a hard place

Panama’s Minister of Economy and Finance, Alberto Vallarino, has spoken out on his level of discomfort   by remaining in  office.

Referring to his  continuing role  in the government after submitting  his resignation following  the breakup of the ruling alliance between the Panamenista Party and Democratic Change (CD ). Vallarino said: "Obviously I cannot continue in this position."

He is also vice president of the Panamenista Party, which "today is not a member of the government …. So I resigned.”

Vallarino told a news conference that he was the spokesman at a meeting with the media, when the party  announced that if  then Foreign Minister Juan Carlos Varela was removed from office, the Panamenista serving members of thegovernment would submit their resignations.

 President, Ricardo Martinelli, dismissed Juan Carlos Varela, president of the Panamenistas from his post as Chancellor and on August 30 Panamenista ministers, including Vallarino, submitted their resignations.

He  mentioned  that a further cause for his personal discomfort  was when several members of the party of which he is vice-president, voted  against,the state budget for fiscal 2012, which was approved by the ministry that he heads.

 For this reason  he said,  there would be no "comfort" for a Panamenist Minister to go to a National Assembly composed as it is today. where their companions of the group are on the bench opposition.

The minister is waiting for  Martinelli  to name his replacement andhas recommended the current deputy economy minister, Frank De Lima, as his successor.