Panama finance minister Alberto Vallarino may quit over cabinet row as Martinelli fires former rival

Panama's Finance Minister Alberto Vallarino threatened to quit after President Ricardo Martinelli sacked the foreign minister over a political row that has ruptured the governing alliance.

Vice President Juan Carlos Varela was abruptly fired from his cabinet position as foreign minister after the president's office accused Varela of dedicating too much time to his ambition to run for president in 2014.

Varela agreed to abandon his 2009 presidential campaign to back Martinelli in exchange for Martinelli's support for the 2014 election. However, that support has since been withdrawn. Martinelli is prohibited constitutionally from running for 2014.

Original source: Reuters