Panama coach Alexandre Guimaraes has indicated he is willing to step down from his post after the team's exit from World Cup qualifying last weekend.

Panama lost to El Salvador 3-1 in the third-round of qualifying in the CONCACAF zone on Sunday to surrender their 1-0 advantage from the first leg.

Guimaraes is set to meet Panama football federation president Ariel Alvarado later this week when he revealed he will offer his resignation as coach of the national team.

'I think things are clear enough for both parties and it will all depend on them (the federation). However, it's almost a fact that I will not continue,' Guimaraes told reporters.

'The life of a coach depends on results. The goal of qualification was unfortunately not achieved. We are waiting for the right moment to talk to the federation president.

'In that discussion I will report for the last time and after shaking hands each of us will head their own direction.'

Guimaraes denied he has made his decision to pave the way for a possible return to the Costa Rica national team, whose coach Hernan Medford is under fire after they narrowly progressed past Grenada.

Guimaraes led the Ticos to the past two World Cups, however, they struggled past Grenada drawing their first-leg tie 2-2 before a 3-0 win at the weekend ensured their safe passage.

Guimaraes ruled out a return, telling La Prensa newspaper: 'Firstly, Costa Rica already have a coach who is a friend of mine.

'Secondly, I am too shocked by the elimination so I cannot think about anything else but meeting the federation members and discuss what I need to discuss.'