Embattled World Bank president Paul Wolfowitz has vowed to stay on the job despite the controversy over his admission that he secured his girlfriend a hefty pay raise before she was assigned to work outside the bank.
Wolfowitz spoke at a news conference at the end of the two-day "spring meeting" of the World Bank and International Monetary Fund. He said the bank is doing important work and he intends to continue it.
Wolfowitz's comments came after Mexican economy minister Augustin Carstens said the situation is of "great concern" to members of the World Bank Development Committee. But a communique issued by the committee stopped short of asking Wolfowitz to step down. It said the bank must ensure that it can effectively carry out its mandate and maintain its credibility.
In an unprecedented move, the bank's staff association, which represents thousands of employees, has asked Wolfowitz to step down over the controversy.