BRUSSELS — Belgian Finance Minister Steven Vanackere resigned Tuesday after a series of scandals shed a bad light on his party's financial dealings with a bank that was bailed out by the government in the wake of the financial crisis.
Vanackere's Christian Democratic party has faced questions over loans that a closely allied union had received at favorable conditions from state-owned Belfius bank. Vanackere has increasingly had to defend himself against accusations he acted improperly. He has rejected the allegations against him.
He said Tuesday he was resigning not because of wrongdoing but because the pressure of the constant allegations limited his ability to carry out his ministerial duties.
Prime Minister Elio di Rupo said in a statement he regrets his deputy's decision to step down.
Vanackere, a former foreign minister, was finance minister since 2011, when Belgian parties agreed on a coalition government after about 18 months of wrangling. His party will now name a new candidate for the post.
Belgium has a relatively high debt load and its economy is weakening. The government aims to further tighten its budget as it focuses on healing public finances.