Wolfowitz fights to hold on to job

World Bank president, Iraq War architect defiant in new letter to committee.


WASHINGTON (CNN) -- The war of words continues to swirl around World Bank President Paul Wolfowitz as he fights to hold on to his job.

On Thursday, Wolfowitz released a letter sent to the special committee of World Bank directors that is investigating the controversy about the pay and promotion package Wolfowitz approved for his girlfriend, Shaha Riza.

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World Bank president Paul Wolfowitz

Riza was transferred to a State Department foundation after Wolfowitz took over at the bank. She receives a salary of almost $194,000 a year, tax free.

In the new letter, Wolfowitz rebuts statements from former World Bank officials who claimed that he ignored Bank ethics committee directions on the Riza case and that he acted improperly.

Wolfowitz blames what he calls "ambiguous bank rules and unclear governance mechanisms."

And he says: "While I am prepared to acknowledge that we all acted in good faith at the time and there was perhaps some confusion and miscommunication among us, it is grossly unfair and wrong to suggest that I intended to mislead anyone and I urge the committee to reject the allegation that I lack credibility."

In Brussels Wednesday, Wolfowitz brushed aside questions about his future at the bank, saying he and others should stay focused on the important work of the bank because there are millions of poor people around the world that depend on it.

Some of the criticism of Wolfowitz dates back to when he was No. 2 at the Pentagon and one of the chief architects of the Iraq war. He also drew fire for his anti-corruption policy at the bank, which some long-time bank employees thought unfairly victimized the poor in certain countries.

And there also is some general resentment against the tradition at the bank that the president is always an American, named by the U.S. president. Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.